A Colorado man accused of defrauding thousands from customers via his business pleaded guilty to one count of felony theft in El Paso County court last week.
Richard Reynolds, of the Black Forest Retreat, was accused of taking over $260,000 from customers for his all-inclusive wedding service business but providing none of those services to his customers and keeping the money, the Sheriff's Office alleged at the time.
Reynolds, who was arrested in October, pleaded guilty to one of 14 charges, class 4 felony theft between $20,000 and $100,000. For the remaining 13 charges Reynolds' faces, his plea remains not guilty. But court records show a plea agreement was submitted to the court the day of Reynolds' guilty plea on July 27, which could lead to the remaining charges being dismissed.
Class 4 felony theft between $20,000 and $100,000 carries a maximum prison sentence of six years and between $2,000 and $500,000 in fines in the state of Colorado.
A sentencing hearing for Reynolds is scheduled for Sept. 20 in the 4th Judicial District Court.
He is currently being held in El Paso County jail on a $30,000 bond.
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