March 23, 2024

A Pueblo cattle investment operator was recently sentenced to 41 months in federal prison and ordered to pay nearly $5 million in restitution for his role in a complicated cattle investment fraud scheme that spanned nearly seven years.

Richard K. Sears, 73, of Pueblo, pleaded guilty to fraud and money laundering in May and was sentenced by U.S. District Court Judge Robert E. Blackburn on Dec. 9, the United States Attorney’s Office for the District of Colorado announced in a news release on Dec. 11.

In addition to the nearly three-and-a-half-year prison sentence, the judge ordered Sears to pay $4,969,384 in restitution to his victims. Following his incarceration, he must also serve three years of supervised release.

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