03/25/2011 09:24 am ET Updated May 25, 2011

SEC Chasing Colorado Man, One Other, In Alleged $30 Million Ponzi Scheme

Federal securities regulators are chasing down two men they say independently clipped more than 200 people of nearly $30 million in Ponzi schemes so elaborate that investors remained duped long after their money disappeared.

One of the men -- Richard Dalton, 64, of Golden -- initially worked for the other -- Larry Mi chael Parrish, 46, of Walkersville, Md. -- and learned the Ponzi business so well that the apprentice eventually outdid the mentor, conning twice as many people for twice as much money, according to Securities and Exchange Commission documents filed in federal court in Denver.

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