The Denver District Attorney’s Office is currently looking for a Denver attorney who was once co-chair of Clinton Global Initiative.
Steve Bachar is the subject of an Oct. 18 warrant, charging him with securities fraud, theft, and other charges. According to the Denver Post, he is accused of lying to investors and stealing $100,000 to $1 million.
Bachar isn’t the only one to be facing legal problems. He was charged with misusing $2million that had been set aside for personal protective equipment. In addition, he lost two lawsuits.
Former Clinton Global Initiative Co-Chair Steve Bachar has been indicted on felony theft and securities fraud counts. https://t.co/OXRvKtRFHO— Nick Short (@PoliticalShort) October 27, 2021
According to the new warrant, the alleged crimes occurred between Oct. 13, 2017 and Aug. 8, 2018.
“Steven Charles Bachar, in connection with the offer, sale or purchase of a security, directly or indirectly, unlawfully, feloniously and willfully made an untrue statement of material fact or omitted to state a material fact necessary in order to make the statements made … not misleading,” states the complaint obtained by the Post.
Bachar sent a statement in defense.
“These are outrageous, unfounded and false accusations,” he wrote. “I am pleased that we are now engaged in a process that will let the facts come to light.”
Bachar is currently being investigated by Office of Attorney Regulation Counsel. This office oversees Colorado attorney discipline.
The Post reported that Bachar was ordered to pay $4.5 million to two companies earlier this year in connection with two civil lawsuits.
DaVita Inc. sued Bachar, claiming it paid Bachar $604,000 towards providing 4,200 N95 masks in a $2.4million deal. However, Bachar never received any money.
The Future Health Company also sued Bachar, claiming that Bachar had not paid them the $1.2million they owed for 3,000,000 medical gowns.
According to the company, it was never obligated under the court judgement against Bachar.
Bachar was part of the former President Bill Clinton’s advance team and once claimed that he was “joined at his hip”. Bachar worked also for the Treasury Department.
According to the Washington Free Beacon, he was part of the national financing committee for the 2016 presidential campaign of Hillary Clinton .
The Washington Free Beacon reported that he also co-founded Empowerment Capital Management, a company that focuses on socially responsible investing.