|Published:||Aug 30, 2010 5:51 PM EDT|
|Updated:||Aug 30, 2010 2:51 PM EDT|
DENVER (AP) - A Colorado man accused of running a Ponzi scheme that took in more than $23 million has been extradited from Argentina to face charges.
Prosecutors accuse William L. Walters of bilking investors in Colorado and eight other states: California, Florida, Hawaii, Illinois, Massachusetts, Pennsylvania, Texas and Wyoming.
Colorado Attorney General John Suthers and the FBI said Monday that Walters arrived Saturday and will be tried in Douglas County outside Denver.
He's accused of soliciting day-trading investments, promising rates of return of between 10 and 40 percent. Prosecutors allege he used the money to pay his own expenses and make payments to other investors.
Walters is being held in Denver's jail and couldn't be reached for comment.