Steven Bachar was prominent in political and business circles before being convicted of stealing from investors.
RIFLE, Colo. — A disbarred Denver attorney, investor and political figure who pleaded guilty last year to defrauding a friend and fellow investor out of $125,000 has died in a western Colorado prison, the Colorado Department of Corrections said.
Steven Bachar, 58, died at Rifle Correctional Facility, where he was serving a three year sentence, the DOC confirmed. He was scheduled for a parole hearing in November.
The DOC confirmed Bachar’s death, but would not provide any additional information.
The Garfield County Coroner’s office says Bachar appeared to have a “medical event” this morning. Investigators initially believe Bachar’s death was due to natural causes.
Bachar pleaded guilty in September to one count of felony theft. He was sentenced in November to three years in prison and ordered to pay $182,000 in restitution.
According to The Denver Gazette, the District Attorney’s Office said an investor wired $75,000 to a subsidiary of Bachar’s investment firm in 2017. That investor was promised he would receive interest from the company’s profits. Two months later, Bachar asked the investor for an additional $50,000.
Bachar never invested the funds, instead using most of the money for personal use, the district attorney’s office said.
Bachar worked on the White House advance team for President Bill Clinton, according to a biographical article from his alma mater, Emory University.
Bachar did consulting work for the Democratic Leadership Council, the article said.
A 2015 Denver Post profile called Bachar a “political heavy hitter,” noting his work co-chairing the Clinton Global Initiative and Governor John Hickenlooper’s election campaign.
Other stories from Next with Kyle Clark:
SUGGESTED VIDEOS: Full Episodes of Next with Kyle Clark
