Logan County man gets 48 years in prison for theft and securities fraud over trailer scam

A Logan County man has been sentenced to 48 years in prison for securities fraud and theft.

Eddie Wayne Johnson of Sterling was convicted by a jury of seven counts of securities fraud and four counts of theft over $20,000, according to a news release from the state attorney general’s office.

The case was investigated by the Colorado Division of Securities, part of the Department of Regulatory Agencies.

Starting in August 2013 Johnson solicited funds from at least five investors to buy stock in Overland Trailer Mfg. and Overland Corp., companies he owned. Investors were told the companies were under contract from large outdoor sporting goods retailers for the production, marketing and distribution of trailers. Johnson promised high returns with little or no risk, the release said.

Read more: http://www.denverpost.com/2017/03/27/logan-county-man-gets-48-years-in-prison-for-theft-and-securities-fraud-over-trailer-scam/