Colorado seeks restitution from 2 business brokers

AP News
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Posted: Dec 18, 2009 6:26 PM

The Colorado attorney general's office has filed a lawsuit seeking restitution from two Englewood-based business brokers accused of defrauding more than 700 clients.

The lawsuit in Arapahoe County District Court says that from July 2006 to September 2009, more than 700 small business owners hired Corporate Acquisitions Group and Global Acquisitions Group to help them sell their businesses. Prosecutors allege the broker companies misrepresented their success rates. The lawsuit says the broker companies sold fewer than 10 businesses in that time and didn't always follow through on money-back guarantees if a business didn't sell.

The broker company owners Tyrone Tymkovich of Aurora and Sam Levine (leh-VINE') of Castle Rock didn't return messages seeking comment Friday.