An Arapahoe County District Court judge approved a settlement that bars two men from “defrauding Colorado Businesses” through their business brokerage.
Tyrone Tymkovich of Aurora and Sam Levine of Castle Rock were accused of defrauding more than 700 businesses in Colorado and other states through their two Englewood-based businesses, Corporate Acquisitions Group and Global Acquisitions Group, said Attorney General John Suthers.
Suthers obtained a contempt of court charge against the two men earlier this year. The two men approached businesses and informed them that buyers were interested in their firms, and convinced them to conduct an appraisal of their business for $5,000. Of that money, only $1,000 was used to complete the appraisals.
Under the terms of the settlement, neither Tymkovich nor Levine will be allowed to act as business brokers for any new clients or solicit upfront fees from existing clients.