DENVER — December 22, 2025 — On December 16, 2025, the Arapahoe County District Court sentenced Raymond Kim of Centennial, Colorado, to two 8-year terms of incarceration, to be served concurrently, with three years of parole. Mr. Kim was also ordered to pay $812,004 in restitution. The sentence related to Mr. Kim’s September 2025 guilty plea of securities fraud.
This criminal sentencing is, unfortunately, the second for Mr. Kim in recent years. In 2019, the Colorado Division of Securities investigated and referred Mr. Kim to the Colorado Attorney General’s office for prosecution for lying and omitting material
information in the solicitation of investors and misusing investor funds for personal expenses. In August 2020, Mr. Kim pled guilty to a Class 3 felony for securities fraud and was subsequently sentenced to economic probation. Mr. Kim was also ordered to pay restitution in the amount of $117,600.
While serving economic probation and in violation of his plea agreement, Mr. Kim proceeded to then solicit investors at a fitness center in Centennial, Colorado. He made material misrepresentations and omissions while offering and selling convertible promissory notes and stock purchase agreements. Collectively, the investors paid Mr. Kim $820,000. Mr. Kim used investors’ funds to pay other investors and for personal use.
This led to a further investigation for which Mr. Kim was indicted again for securities fraud. On September 18, 2025, Mr. Kim pled guilty to one count of securities fraud in the new case and admitted to violating his probationary sentence on the prior case. On December 16, 2025, Mr. Kim’s original economic probation was revoked, and he was sentenced to the two 8-years terms of incarceration, to be served concurrently and without probation.
The Colorado Division of Securities investigated this matter, and the Colorado Attorney General’s Criminal Justice/Financial Fraud Unit prosecuted the case.