Denver attorney dies four months after imprisonment for theft
A licensed attorney and Denver-based entrepreneur with ties to a successful campaign for the U.S. presidency in the 1990s recently passed away in a Colorado state prison.
Steven Bachar, 58, died March 15 while in Colorado Department of Corrections custody. A DOC spokesperson confirmed Bachar was being held in the Rifle Correctional Center in Garfield County at the time of his death.
Bachar was sentenced to three years in state prison in mid-November. He pleaded guilty in Denver District Court to a single felony count of theft after a friend and investor contacted state authorities in September 2021. That person claimed to have met Bachar when the two worked on a 1992 presidential campaign together.
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That friend reported Bachar to securities personnel with the Colorado Division of Regulatory Agencies, alleging a no returns on his/her investments, no refunds of principal, and no documentation from Bachar about the money invested.
"Mr. Bachar made several misrepresentations and omissions to secure the investment funds, and never invested or repaid the money, instead spending most of the investor's $125,000 for personal use," the Denver District Attorney's Office stated in a press release announcing Bachar's sentening.
Bachar was originally indicted on a securities fraud charge in addition to the theft which he pleaded guilty to. Prosecutors dropped the fraud count as part of the plea agreement.
Aside from prison, Bachar was also ordered to repay $182,000 to the investor.
DOC spokesperson Alondra Gonzales told CBS News Colorado the agency was conducting an investigation into Bachar's passing. She provided no details and stated that none would be provided until DOC finished its investigation, which typically takes six to eight weeks.
