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    Wheat Ridge Woman Indicted on 10 Counts of Securities Fraud and Theft

    First Judicial District Attorney Peter Weir announced that the Jefferson County Grand Jury has returned a 10-count indictment against Chiffon de Schausten, 79, for defrauding six people out of over $165,000 between April 2008 and September 2012. She has been indicted on four counts of Securities Fraud (F3), four counts of Theft of $20,000 or more (F3); and two counts of Theft $1000-$2000 (F4).

    The Wheat Ridge woman is accused of soliciting funds from people under the pretext that they would be investing in her business projects and then using the funds for other purposes. She is alleged to have offered high rates of return while failing to fully disclose all material risk in the proposed investment.

    In 2008, De Schausten was co-owner of the Entertainers restaurant in Lakewood where she played classical piano for customers. De Schausten met a female customer at the restaurant whom she told that she was a concert pianist and that she had an opportunity to play at Carnegie Hall, but couldn’t afford the costs. De Schausten told the woman that if she would loan her the money, she would repay the money, plus give the customer 50% of the proceeds from the concert. Over time, the customer is alleged to have given de Schausten over $100,000 for the Carnegie Hall concert. According to the indictment, none of that money was repaid. The money was spent on de Schausten’s personal expenses or business expenses not related to a Carnegie Hall concert.

    In 2011, de Schausten owned La Vie En Rose, another restaurant in Lakewood. She prepared meals and played classical piano for customers. Through the restaurant, and through other means, she met several people from whom she solicited cash to help run the restaurant and to produce and market CDs of her playing classical piano. Five people provided funds for de Schausten’s CD project. They were told that they would receive double their money back. In addition to the promise to repay the money, de Schausten gave each of them stock certificates which are alleged to be fraudulent.

    According to the indictment there was no evidence that de Schausten was producing or marketing CDs. The funds are alleged to have been used for de Schausten’s personal or business expenses not related to producing or marketing CDs.

    In anyone has information about this case that they believe may be of assistance to investigators, please contact DA Investigator Troy Cooper, 303-271-6800.

    De Schausten was arrested on October 10. She is being held at the Jefferson County Detention Center on $100,000 cash bond. She is scheduled to be in court on November 4.

    Pam Russell
    DA Public Information

    October 18, 2013

    Chiffon de Schausten

    Last Updated: 10-22-2013
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    A defendant is presumed innocent until and unless proven guilty. See Colo. RPC 3.6.