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Take the Money and Run

It took sixteen years and international extradition, but the Colorado Attorney Generalís Office finally got its man.

Feigin, who eventually spent ten years in the security division's top post before moving briefly to Washington, D.C., to direct the National Association of State Securities Regulators, now works in Denver as special counsel for the law firm of Rothgerber, Johnson and Lyons. While he was still on the case, however, he managed to convince the state legislature to add the securities-fraud unit -- for which Reichman and Lewis both work -- to the attorney general's criminal-justice section. The case helped legislators understand the need for a bigger commitment toward punishing securities fraud, and it also contributed to getting stiffer penalties for fraudulent criminals. Securities fraud used to be a class-five felony with a maximum sentence of five years; now it's a class-three felony, which can bring much longer sentences.

Now that he knows Schlaks is serving time, Feigin feels proud that justice -- albeit an overdue justice -- was finally served. "It struck me as incredibly wrong for someone to be able to rip off 250 innocent victims and spend the money in such a profligate way. I thought it was important to send the message that Colorado is a bad place to commit securities fraud and that you can't just do these things and then skip town."

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