Fort Collins broker charged with theft

FORT COLLINS – The new Economic Crimes Division of the Larimer County District Attorney’s office has filed multiple theft charges against Niles Errol Stansfield, owner of Double Eagle Realty in Fort Collins.

The charges stem from an investigation by Fort Collins Police Services and the DA’s office into what investigators said was a fraud scheme involving 16 victims who invested $865,000 with Stansfield. Two other Stansfield-owned companies, New Amity Inc. and Fort Lyon Farms Inc., are also connected to the case.

Police said Stansfield sought investments for the purchase of water rights from canals along the Arkansas River in southern Colorado. The investigators say Stansfield told investors his companies would in turn sell the water rights to “end users.”

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The DA’s charges include theft and securities fraud in violation of the Colorado Securities Act, alleging that only a small percentage of the investments went toward water right purchases. Stansfield posted a $100,000 property bond on March 4 and is scheduled to appear in court March 16.