Colorado
Aid to Ukrainians stretches from Italy to Colorado
DENVER (KDVR) – So many teams around the globe are serving to in any approach they will to refugees fleeing the Russian invasion of Ukraine and that effort can also be taking place proper right here in Colorado.
An area non-profit group in Berthoud referred to as Ukraine Orphan Outreach simply bought paintings from an artist out of Georgia, a part of the proceeds will go to assist Ukrainian orphans.
Additionally, a enterprise proprietor out of Italy reached out to FOX31 to share their effort to assist of us in want.
“I noticed the pictures and we’re in a particularly fortunate place that we now have a lot area obtainable,” stated Michael Kogelnik, proprietor of Bazza, a baggage model. He’s from Austria however his enterprise is in Italy.
“It’s principally our obligation to do it,” Kogelnik stated.
“Proper now, we now have six folks, 4 of those are children so we now have 4 children aged two to 10 years outdated,” Kogelnick stated.
Kogelnik stated his workers helped flip his workplaces into houses for the households who fled the conflict zone.
“First they glided by automobile, 12 hours, by means of Ukraine after which Moldavia. Then they bought right into a bus that carried all of them the way in which to Italy,” Kogelnik stated.
The help from Colorado to Italy is all compelled by a want to assist individuals who’ve been affected by circumstances they will’t management.
Kogelnik stated serving to folks in want is one thing he and so many others can management.
“For me, I simply awakened at some point and stated principally we have to do what we are able to do at the least. So, that’s just like the minimal,” Kogelnik stated.
He has area to deal with extra refugees, Kogelnik stated, in the event that they make their solution to his workplaces in Milan.
Kogelnik does plan to usher in as many refugees as he can accommodate.
Colorado
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Colorado
Colorado authorities shut down low-income housing developer
The Colorado Division of Securities is pursuing legal action against a man whom it claims deceived investors and used the ownership of federally supported low-income housing projects to line his own pockets.
Securities Commissioner Tung Chan announced its civil court filings against Michael Dale Graham, 68, on Nov. 12.
Chan’s office filed civil fraud charges against Graham, and also asked for a temporary restraining order and freezing of Graham’s assets and his companies’. A Denver district court judge immediately granted both. Since then, two court dates to review the those orders have canceled; a third is scheduled for mid-January.
Graham operates Sebastian Partners LLC, Sebastiane Partners LLC, and Gravitas Qualified Opportunity Zone Fund I LLC (“GQOZF”), all of which were controlled by Graham during his “elaborate real estate investment scheme,” as described by the securities office in a case document.
The filing states Graham collected more than $1.1 million from eight investors to purchase three adjacent homes in Aurora. The Denver-based Gravitas fund and its investors purportedly qualified for the federal Qualified Opportunity Zone (QOZ) program with the homes. Qualified Opportunity Zones were created by the Tax Cuts and Jobs Act passed by Congress in 2017. The zones encouraged growth in low-income communities by offering tax benefits to investors, namely reductions in capital gains taxes on developed properties.
Graham formed Gravitas in early 2019 and purchased the three homes located in the 21000 block of E. 60th Avenue two years later. He quickly sold one of them with notifying investors, according to the case document. While managing the other two, Graham and Gravitas transferred the fund’s assets and never operated within QOZ guidelines to the benefit of its investors or the community, according to the state.
Gravitas also transferred the titles for the two properties to Graham privately. As their owner, Graham obtained undocumented loans from friends totaling almost $600,000. The two loans used the two properties as security.
Gravitas investors were never informed of the two loans, according to the case document. Also, Gravitas never sent its investors year-end tax reports, the securities office alleges.
Graham used the proceeds of the loans for personal use. No specific details were provided about those uses.
“Effectively, Graham used Gravitas as his personal piggy bank,” as stated in the case document, “claiming both funds and properties as his own. Graham never told investors about the risks associated with transferring title to himself. On September 1, 2023, he sent a letter to investors, stating that the properties ‘we own’ are doing well and generating growth due to record-breaking home appreciation. But Gravitas no longer owned the properties.
“Gravitas no longer had assets at all.”
Furthermore, the securities office said Graham failed to notify investors of recent court orders against him in Colorado and California. In total, Graham was ordered to pay more than $1 million in damages related to previous real estate projects.
Graham’s most recent residence is in Reno, Nev., according to an online search of public records. He evidently has previously lived in Santa Monica, Calif., and Greenwood Village.
Colorado
Colorado weather: Temperatures staying in the 60s Sunday
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