Denver — June 5, 2025 — Mack Jamie Sprouse, a resident of Jefferson County, Colorado, was indicted on 11 counts of securities fraud by a grand jury. Sprouse was arrested on June 3, 2025.
The indictment alleged that Sprouse solicited approximately $4.8 million from at least 80 investors in his house-flipping business, Urban Veneer Holdings LLC. Sprouse raised investor funds through the issuance of promissory notes with a promise to repay the principal of the note and high-interest payments.
The indictment specifically alleged that Sprouse made untrue statements of material fact and failed to disclose material facts to investors and engaged in business practices that operated as fraud and deceit upon investors. Sprouse allegedly misrepresented how he would use investor funds and his use and reliance on other sources of funding for Urban Veneer. The indictment alleged that Sprouse falsely led investors to believe their investments would be secured by either Urban Veneer or collateralized by specific real estate assets. However, the investments were not secured and Sprouse lacked sufficient funds to repay investors.
Sprouse is not registered to offer or sell securities in Colorado. 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.
If you or anyone you know has invested in Sprouse's company, Urban Veneer Holdings LLC, contact the Division of Securities at 303-894-2320 or dora_SecuritiesWebsite@state.co.us. You can also contact the Colorado Attorney General at 720-508-6000.