DENVER — A Denver man who pleaded guilty to defrauding roughly 30 clients, including some professional athletes, in an investment scheme will spend more than three years in federal prison.
Ian Gregory Bell, 36, was sentenced to 37 months in prison on Friday in federal court in Denver by Judge Phillip Brimmer. He is also ordered to pay $150,000 in fines and roughly $1.2 million in restitution. The court gave him 15 days to report to prison.
Denver7 Investigates first reported on Bell in December 2024, when he was facing more than a dozen charges, accused of taking more than $1 million from his clients, including some pro athletes.
- Watch our previous reporting below
According to court documents, Bell served as an investment adviser and promised his clients that they could earn significant returns on investment with low risk. The scheme mostly took place between 2020 and 2022.
In reality, Bell was using that money to live a lavish lifestyle, taking vacations, buying jewelry and paying for expensive meals.
Documents show that Bell was paying off his fiancée’s credit card statement and sending money to his mother. He also provided false statements to clients showing substantial gains and lost some of the money in bad investments.
When investors began demanding their money back, he provided several excuses and, in some cases, fabricated email addresses and sent investors fake email correspondence so they would believe they would be getting money soon. In other cases, he would mail investors checks that they were unable to cash due to insufficient funds or missing information.
Bell took a plea deal in May, pleading guilty to money laundering and wire fraud charges.
“Defrauding people who put their trust into a financial adviser is a serious crime,” said United States Attorney Peter McNeilly in a press release Monday. “Justice has been served for those who were negatively impacted by the defendant’s dishonest actions.”
