Colorado Man Charged With Scheming Investors Out Of $7 Million
MINNEAPOLIS—Earlier today in federal court, a 35-year-old Colorado man was charged with scheming investors out of $7 million. Evan Matthew Flaxman, of Silverthorne, Colorado, was charged via an Information with one count of mail fraud in connection to the scheme.
Allegedly, from December of 2009 through March of 2012, Flaxman induced investors to give him money, which he said would be invested on their behalf. Flaxman then allegedly used the money for personal use, including the purchase of Ferraris and Porsche automobiles and a Rolex watch. Purportedly, he also used the money to pay his taxes.
If convicted, Flaxman faces a potential maximum penalty of 20 years in prison. All sentences will be determined by a federal district court judge. This case is the result of an investigation by the U.S. Postal Inspection Service and the Federal Bureau of Investigation. It is being prosecuted by Assistant U.S. Attorney Thomas Calhoun-Lopez.
A defendant, of course, is presumed innocent until he or she pleads guilty or is proven guilty at trial.