Real estate fraud hounds Dacono

DACONO — Dacono faces its second development fraud controversy in less than three years, this time involving two Denver-area men accused of raising more than $4.7 million from investors, then converting most of the money to their own uses.

In late July, the U.S. Securities and Exchange Commission filed a complaint against Glen W. Hilker, Larry M. Baker, Project Dacono LLC and HB Investors LLC, charging the defendants with violations of the U.S. Securities Act.

The case against Hilker and Baker comes on the heels of the Dacono Factory Stores investment furor of 2001, which has led to criminal charges against four…