DENVER, CO – May 10, 2023 - Kent Lawayne Edlin was indicted on 8 counts of securities fraud by a grand jury on May 4, 2023. Edlin was arrested today.
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.
If Colorado consumers believe they have or anyone they know has been solicited by Edlin, they should email the Colorado Division of Securities, call 303-894-2320 or contact or the Colorado Attorney General.
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.