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Alleged Ponzi scheme could be the largest in Colorado Springs hi - KOAA.com | Continuous News | Colorado Springs and Pueblo

Alleged Ponzi scheme could be the largest in Colorado Springs history

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The same type of fraud that took world-wide headlines with Bernie Madoff's case, may be swirling around in Colorado Springs.

Karen McClaflin of Colorado Springs awaits sentencing in what some close to the case are calling one of, if not the biggest alleged Ponzi scheme in Colorado Springs history.

Court documents acquired by News 5 Investigates show Karen McClaflin, owner of Home Source in Colorado Springs, solicited investors to flip houses and return a portion of the profits to them.

But, we’re told McClaflin is accused of defrauding the victims by selling the majority investment position in these properties to multiple people.

Initially, many investors believed they held the deed to the property a source said.

News 5 Investigates the big decisions left to be made in this case as McClaflin denies in court documents that she was operating a Ponzi scheme through Home Source.

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