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    Man Indicted on Securities Fraud and Theft


    (Golden, CO - May 6, 2011) A Jefferson County Grand Jury has returned a 28 count indictment against Israel S. Mursuli, 58, alleging that he solicited over $1M from investors in two scams that violated the Colorado Securities Act.

    Between 2005 and 2009 Mursuli, also known as Steven Mursuli, is alleged to have fraudulently solicited funds from potential investors through two different schemes. One “investment opportunity” offered by Mursuli was an investment that promised a very high rate of return. This program was referred to by Mursuli as the “18% Money” investment program.

    Mursuli was involved in several business ventures, most of which were in Jefferson County. Two of the businesses, Mountain Computers, Inc. and Mio Café, operated in Evergreen.

    The second scheme involved an investment into the expansion of Mursuli's computer business Mountain, Computer, Inc. in exchange for common stock. Investigators did not find that the funds solicited for Mountain Computer, Inc. were deposited into a business account.

    Mursuli maintained bank accounts in Jefferson County. According to the indictment there is no indication that any of the victims’ “investment” funds were deposited into the “18% Money” investment program or any other investment account. The indictment also alleges that the funds solicited by Mursuli were deposited into Mursuli’s personal account and used for his daily living expenses, payments to investors and payments for some of the other businesses he was involved with during this period of time.

    One of the alleged victims is Brandon Eastburn. He and Mursuli met in 2005 through a mutual friend. Eastburn invested over $200,000 in the
    fraudulent “18% Money” investment program. Between 2005 and 2009, two members of Eastburn’s family and two of his friends also invested in Mursuli’s alleged fraudulent investment programs.

    According to the indictment Mursuli described himself to potential investors as a man of wealth who was involved in many business ventures. He told Eastburn that he had an associate who made loans to the “rich and famous” at very high rates of return and that these rates could be passed on to local investors.

    The investors in the “18% Money” program received some payments from Mursuli and were led to believe it was interest or a return on their principal. This gave victims the confidence to reinvest and several of them did.

    Mursuli was indicted on 28 counts of Securities Fraud and two counts of felony Theft. Each count is a class three felony that carries a potential penalty of up to eight years in prison.

    Mursuli was arrested in Sarasota, Florida on May 2. The U.S. Marshall’s Office arrested him on the Jefferson County arrest warrant. He is being held on a one million dollar cash bond and will be returned to Jefferson County.

    Pam Russell
    DA Public Information
    303-271-6905
    prussel@jeffco.us

    May 6, 2011

    Israel Steven Mursuli


    Last Updated: 6-27-2013
  • The filing of a criminal charge is merely a formal accusation that an individual has committed a crime(s).
    A defendant is presumed innocent until and unless proven guilty. See Colo. RPC 3.6.