Rome v. Reyes

Opinion by

JUDGE NAVARRO

¶ 1 In this civil enforcement action, plaintiff, Gerald Rome, Securities Commissioner for the State of Colorado (the Commissioner), appeals the district court’s judgment dismissing the claims against defendants Antonio Reyes, Craig Kahler, and Betty Schno-renberg. We reverse and remand with directions.

I. Factual and Procedural History

¶ 2 Because the court granted defendants’ motions to dismiss, we accept as true the following facts alleged in the Commissioner’s complaint. This case arises out of a Ponzi scheme that defrauded at least 255 investors out of $15.25 million…