Special Report: The legacy of Blue Bear, 15 years later

It began with an effort to earn large returns by factoring – the investment practice of buying up accounts receivable for less than their face value and collecting on them as close to face value as possible. It ended with deception of investors and a Ponzi scheme that left hundreds of investors with no way to get back what they had invested.

Such is the story of Blue Bear Funding LLC, a fraud scheme that had its origin in Windsor but encompassed numerous Northern Colorado communities. And even though hundreds lost life savings, no one went to jail for it. Investigators recovered just pennies on the dollar invested.

BizWest, which covered the scheme when it was unraveling, takes another look in this special report.

‘Birth of a Ponzi-type scheme’

Time clouds law-enforcement decisions

Pain and questions linger for investors

It began with an effort to earn large returns by factoring – the investment practice of buying up accounts receivable for less than their face value and collecting on them as close to face value as possible. It ended with deception of investors and a Ponzi scheme that left hundreds of investors with no way to get back what they had invested.

Such is the story of Blue Bear Funding LLC, a fraud scheme that had its origin in Windsor but encompassed numerous Northern Colorado communities. And even though hundreds lost life savings, no one went to jail for it. Investigators recovered just pennies on the dollar invested.

BizWest, which covered the scheme when it was unraveling, takes another look in this special report.

‘Birth of a Ponzi-type scheme’

Time clouds law-enforcement decisions

Pain and questions linger for investors