Gerald “Jerry” Rome has been Colorado Securities Commissioner for nearly four years. The self-proclaimed consumer watchdog boasts of huge court victories exposing fraud, telling Colorado taxpayers they have been rewarded with tens of millions of dollars.
Now there’s a startling confession.
Mr. Rome doesn’t lift a finger to ever collect the money.
The admission came after Dolcefino Consulting requested documents detailing any efforts by Colorado regulators to collect nearly $40 million in civil judgements and restitution awards.
Within five work hours, Colorado admitted there aren’t any.
Last week, Dolcefino Consulting put Rome on notice. Cough up any public records you are hiding in the next 14 days or face a legal challenge.
“Either Mr. Rome is intentionally hiding public records, or he should apologize to taxpayers for grossly misrepresenting the success of his agency,” says Wayne Dolcefino, president of the Houston based investigative communications firm.
The securities division won a recent court judgement against Heartland Energy, even though the alleged fraud occurred 16 years ago. One of the principals in the legal fight is Joel Kinlaw.
Dead men don’t pay judgements. Kinlaw has been dead for seven years.
In October of 2015, there was a $10 million dollar judgement against John Koral, of a company called U.S. Capitol. Records show not a penny has been collected. The company had filed bankruptcy five years before the judgement.
A 2011 case resulted in an $11 million restitution award for the securities division against Dharma Investment Group co-owner, Bela Geczy. Geczy, was sentenced to eight years in prison. Colorado admits no effort has been made to collect a penny.
A 2011 case resulted in a $74 million restitution award for the securities division against Denver hedge fund manager, Sean Mueller. Records released by the securities division show no money has been collected on that award either. Mueller, will be in prison for more than two decades.
Dolcefino Consulting has already proven less than 3 percent of those promised taxpayer gold mines have ever materialized.