Mark Ray Courtesy Texas and Southwestern Cattle Raisers Association
Settlement agreement ends federal investigation
By Elise Schmelzer | The Denver Post
Decker fire grows south of Salida, fueled by dry weather and wind
A Denver man convinced investors to give him tens of millions of dollars for his cattle trading and marijuana businesses, luring them with promises of steep returns.
The problem? Mark Ray owned almost no cattle. And his wholesale, state-licensed marijuana business was deeply in debt, according to settlement documents filed Monday in U.S. District Court in Colorado.
Instead, Ray for years funneled the millions to pay off prior investors and to line his own pockets, including paying for medical bills, private flights and his own herd of show cattle, the documents said.
