Press Release - Complaint Filed Against Denver Man for Orchestrating Romance Scheme

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                                                                                        NEWS RELEASE

For Immediate Release

Media Contact:
Annelise Grygiel


Denver ー February 1, 2024 ー Colorado Securities Commissioner Tung Chan filed a complaint against Joseph G. Holder Jr. of Denver, based on allegations of a romance scam to defraud women he met through dating apps and at gyms. Allegedly, Holder worked to gain the women’s trust and then induced them to invest in a fabricated medical-related project.

The complaint states that Holder told the women that the payout would be seven to 10 times greater than the initial investment. He allegedly perpetrated a calculated scheme of fake screenshots, statements of his lavish lifestyle and false promises to lure the women in.

The scheme also allegedly included text messages from fabricated associates that lauded Holder’s trustworthiness. Additionally, the complaint states that Holder never invested any of the $120,000 he raised between 2019 and 2023. Instead, he used the money for personal expenses.

The complaint further alleges that Holder is actively trying to stop investors from working with the Division in its investigation and may still be soliciting new investors.

"With romance and relationships celebrated as Valentine's Day approaches, this is an example of the misuse of those bonds. We allege Holder took advantage of these women to enrich himself," Commissioner Chan said. “If this has happened to you, please contact us and help us stop this from happening to other women.”

If you or someone you know has invested with Joseph G. Holder Jr., please contact the Colorado Division of Securities at or 303-894-2320.  

Access the complaint here.

Visit for more information and learn how to protect your investments here

About DORA and the Division of Securities

DORA is the state's umbrella regulatory agency, charged with managing licensing and registration for multiple professions and businesses, implementing balanced regulation for Colorado industries, and protecting consumers. Our nearly 600 employees are dedicated to preserving the integrity of the marketplace and promoting a fair and competitive business environment throughout Colorado.

The Division of Securities exists to protect investors and maintain confidence in the securities market, while avoiding unreasonable burdens on the marketplace by licensing securities professionals, enforcing securities law violations and helping Coloradans become more informed investors. Visit to learn more.