Colorado tax preparer Kent Lawayne Edlin indicted on 8 counts of securities fraud

Kent Lawayne Edlin was indicted on eight counts of securities fraud by a grand jury on May 4, 2023. Edlin was arrested Wednesday.

The indictment alleged that Edlin solicited and received investments from at least 11 individuals to invest in his company RVM. Allegedly, the elderly investors were told that the investments would return profits and were risk free or low risk investments; the indictment alleged, however, that investment money received by RVM was never invested in any financial instruments and instead was funneled to his other businesses, for personal use and to repay previous investors.

Edlin was not licensed to offer or sell securities.

The Colorado Division of Securities investigated this matter, and the Colorado Attorney General’s Criminal Justice/Financial Fraud Unit is prosecuting the case.

A grand jury indictment is a formal accusation that an individual committed a crime under Colorado laws. All defendants are presumed innocent until proven guilty.