Colorado Department of Law
Attorney General John W. Suthers
FOR IMMEDIATE RELEASE
June 2, 2009
Mike Saccone, Communications Director
ATTORNEY GENERAL ANNOUNCED INDICTMENT AGAINST TRIO
SUSPECTED OF RUNNING A $5.7 MILLION INVESTMENT SCHEME
DENVER — Colorado Attorney General John Suthers announced today that his office has obtained an
indictment from the Statewide Grand Jury against three men suspected of running a $5.7 million
investment-fraud scheme. Phillip R. Trujillo (DOB: 7/21/1949), David M. Piatt (DOB: 9/8/1969) and
Timothy B. Burk (DOB: 1/23/1962) are suspected of defrauding 70 investors with promises that their
investments in PTV 22, PTV 33 and PTV 44would be free from risk and would generate generous
returns. The trio also is suspected of failing to fully inform their customers of exactly how their money
would be invested and used.
“Since the collapse of the financial markets, consumers have been looking for quick ways to rebuild their
retirement funds and investment portfolios. Scammers prey on these consumers’ wishes to be made whole
again,” Suthers said. “When consumers are presented with ‘investment opportunities’ promising little or
no risk and big rewards, they should be aware that there are no sure things in the investment world.”
According to the indictment, Trujillo did not disclose to their investors what their investments were
actually being used to fund unsecured promissory notes and to then help pay legal fees related to those
notes once they were in default. Trujillo also is suspected of failing to disclose commissions paid and
personal loans he issued to himself using investors’ funds. Piatt and Burk, who ran investment seminars
and solicited investments in Trujillo’s PTV funds, also are suspected of failing to disclose how
consumers’ funds would be used.
Prosecutors from the Office of the Attorney General will present their case against Trujillo, Piatt and
Burk in a Larimer County District Court. Trujillo resides in Loveland. Piatt and Burk reside in Glendale.
If you believe you have been defrauded in a securities scam, you can contact the Office of the Attorney
General by calling 303-866-4500 and asking to speak to a securities fraud investigator. You also can
contact the Colorado Division of Securities (303-894-232) and the Securities and Exchange Commission
Office of Investor Education and Advocacy (1-800-732-0330 or 202-772-9295).