DENVER—Colorado Attorney General John Suthers today announced that a statewide grand jury has indicted Jeffory Shields (D.O.B. 10/01/1964) and Nicholas Sartini (D.O.B. 1/16/1968) on 16 counts of securities fraud. The indictment alleges that for approximately 11 months, beginning in January 2012, the two men solicited 21 investors from 13 states to invest in fraudulent exploration and drilling of oil and gas wells.
“Investors lost more than $1 million in the course of these fraudulent actions,” alleged Suthers.