Courts

Jul 3, 2012 5:57 AM by Summer Yu

Remaining charges for COS developer Ray Marshall dropped

COLORADO SPRINGS, Colo. (AP) - A judge has dismissed all remaining charges against a Colorado Springs developer whom a jury had acquitted in a separate case.

Ray Marshall was acquitted in April of misleading investors in real estate deals and diverting tens of thousands of their dollars to solve a cash shortage at his firm, LandCo Equity Partners.

He faced six additional theft and racketeering charges in connection with allegations that he diverted $1 million in grant and city funds from a $42.3 million deal to keep the U.S. Olympic Committee headquarters in Colorado Springs. The Gazette reports a judge dismissed the remaining charges last week, saying prosecutors couldn't go forward after the acquittal in the earlier case.

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