Two plead guilty in Ponzi scheme

BOULDER – Two men face jail sentences after they pleaded guilty to two felony counts of securities fraud Wednesday in Boulder County District Court.

The duo – Michael Kass of Boulder and Bela Geczy of Longmont – were charged with bilking $18 million from 272 investors, about half of whom are from Boulder County, according to a grand jury indictment released in April.

Both men are set to be sentenced on April 6. Kass faces a possible sentence of 16 years, and Geczy is facing a sentence of 12 years.

Prosecutors dropped numerous other securities fraud charges and a charge of violating the…