Former Denver investment adviser Ian Gregory Bell has been sentenced to 37 months in prison and ordered to pay over $1.3 million in restitution after federal prosecutors and the SEC accused him of running a fraudulent investment program between 2020 and 2023. Bell, 36, also received a $150,000 fine and will serve three years of supervised release following his prison term.
If you or someone you know has been impacted by Ian Gregory Bell or another broker, don’t hesitate to reach out to Meyer Wilson Werning today. Our attorneys are experienced in broker misconduct cases and will help to guide you through the process with a free consultation.
Federal Charges and SEC Civil Action
Authorities said Ian Bell (CRD#: 6760165) raised funds by presenting himself as a licensed investment adviser, despite not being registered with the SEC after 2020. In December 2023, he pleaded guilty to one count of wire fraud and one count of money laundering.
The SEC filed a parallel civil action alleging that Bell:
- Raised more than $1.3 million from at least 29 investors between July 2020 and March 2023.
- Claimed to operate a “low-risk, high-return day-trading strategy.”
- Created fabricated account screenshots and false statements to mislead clients.
- Told investors their money was guaranteed or could double or triple — promises regulators later described as baseless.
Together, the criminal and civil cases make clear that Bell’s program was built on deception, not real investment performance.
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How the Scheme Worked
According to prosecutors, Bell began soliciting funds in early 2020 while living in Denver. By January 2021, he had already raised about $100,000 from six investors, many drawn from his personal and social networks.
As the scheme grew, Bell expanded to include:
- Friends, relatives, and business associates of earlier investors.
- At least 23 additional investors between May 2021 and July 2022, raising more than $1 million in that period.
- Several professional athletes in Colorado who were promised high returns on supposedly low-risk trading strategies.
But in nearly all cases, investor funds were spent or lost within weeks. Authorities said the “investment program” functioned less like a strategy and more like a personal spending account.
Misuse of Investor Money
Rather than generating trading profits, Bell used investor money to fund personal luxuries. Investigators found funds were diverted to:
- Luxury travel and jewelry purchases.
- His fiancée’s credit card bills.
- Day-trading losses that ran into thousands of dollars per month.
The DOJ and SEC both described investor losses as nearly total, with only small amounts ever repaid.
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Fabricated Materials and Misrepresentations
To maintain credibility, Bell sent investors fabricated screenshots of trading accounts that appeared profitable. He also encouraged clients to recruit family and friends, spreading the fraud further.
Key misrepresentations included:
- Promising guaranteed returns or doubled/tripled principal.
- Concealing his personal financial struggles, including large day-trading losses before the scheme began.
- Failing to provide written materials, track funds, or keep performance records.
These tactics allowed him to sustain the fraud for nearly three years before enforcement actions caught up with him.
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What This Means for Investors
Cases like Bell’s demonstrate the risks investors face when an adviser is not properly supervised or registered. The lack of accountability at small advisory firms can expose clients to major fraud, particularly when trust is built on personal networks.
For investors in Denver, Colorado and beyond, the lessons are clear:
- Registration and oversight matter: Advisers not actively supervised by the SEC or FINRA may operate with few safeguards.
- Guaranteed return promises are red flags: Legitimate investments carry risk; promises to double or triple money are almost always fraudulent.
- Social network recruiting is a warning sign: Expanding schemes through friends and family referrals often mirrors classic Ponzi or pyramid structures.
How Meyer Wilson Werning Helps Defrauded Investors
The sentencing of Ian Gregory Bell shows how quickly investor trust can be abused, especially when fraudulent advisers misuse personal connections and professional status. At Meyer Wilson Werning, we represent investors nationwide who have suffered losses due to fraudulent advisers, unsuitable recommendations, and supervisory failures. If you lost money to Ian Gregory Bell or another adviser engaged in misconduct, contact us today so we can help you assess your recovery options and pursue compensation through arbitration or litigation.
Frequently Asked Questions
Who is Ian Gregory Bell, the Denver adviser sentenced for investment fraud?
Ian Gregory Bell was an unregistered investment adviser who raised over $1.3 million from at least 29 investors between 2020 and 2023. He has now been sentenced to 37 months in prison, a $150,000 fine, and restitution.
How did Ian Gregory Bell defraud investors in Colorado?
Bell promised guaranteed returns through a “low-risk, high-return” trading strategy but instead fabricated account statements. He used investor funds for personal expenses, luxury items, and day-trading losses.
What charges did Ian Gregory Bell face from federal prosecutors and the SEC?
Bell pleaded guilty to wire fraud and money laundering in December 2023, while the SEC filed civil charges for misrepresentation and misuse of investor funds. Both agencies concluded his scheme was built on deception.
Why were professional athletes among Ian Gregory Bell’s victims?
Bell relied heavily on personal and social networks to recruit investors, including professional athletes in Colorado. His promises of guaranteed or doubled returns attracted clients who trusted his status and personal connections.
What can investors learn from the Ian Gregory Bell fraud case?
The case highlights red flags such as promises of guaranteed returns, unregistered advisers, and reliance on personal referrals. Investors should always verify registration with FINRA or the SEC before committing funds.
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