A Denver attorney who was once the co-chair of the Clinton Global Initiative is now being sought by the Denver District Attorney’s office.
Steve Bachar, 56, is now the subject of a warrant issued on Oct. 18, charging him with securities fraud and theft. A criminal complaint against him accuses him of stealing between $100,000 and $1 million and lying to an investor, according to the Denver Post.
This is not the first legal issue, Bachar has faced. Last year he was accused of misusing $2 million earmarked for personal protective equipment and lost two lawsuits.
Former Clinton Global Initiative Co-Chair Steve Bachar has been indicted on felony theft and securities fraud counts. https://t.co/OXRvKtRFHO
— Nick Short (@PoliticalShort) October 27, 2021
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The new warrant says the alleged crimes took place between Oct. 13, 2017, and Aug. 8, 2018.
“Steven Charles Bachar, in connection with the offer, sale or purchase of a security, directly or indirectly, unlawfully, feloniously and willfully made an untrue statement of material fact or omitted to state a material fact necessary in order to make the statements made … not misleading,” states the complaint obtained by the Post.
Bachar texted a statement in his defense.
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“These are outrageous, unfounded and false accusations,” he wrote. “I am pleased that we are now engaged in a process that will let the facts come to light.”
Bachar is currently under investigation by the Office of Attorney Regulation Counsel, which oversees attorney discipline in Colorado.
Earlier this year, Bachar had been ordered to pay two companies $4.5 million in connection with two civil lawsuits, the Post reported.
Bachar has been sued by DaVita Inc., which claims it paid Bachar $604,000 toward providing 4,200 cases of N95 masks in what would have been a $2.4 million deal but never received anything.
Bachar was also sued by The Future Health Company, which said Bachar never paid it the $1.2 million it was owed for 3 million medical gowns.
The company said it has never been paid anything owed it under the court judgment against Bachar.
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“Political heavy-hitter,” indeed.
In 2015 Steve Bachar raised concerns to John Podesta when then-VP Biden began to explore a presidential bid against Hillary Clinton, who was in the midst of her email scandal. #copolitics https://t.co/hZbII9rmcj
— CO Peak Politics (@COpeakpolitics) October 26, 2021
Bachar worked with the advance team of former President Bill Clinton and once boasted that he was “joined at the hip” with him. Bachar also worked for the Treasury Department.
He was part of the national finance committee for the 2016 presidential campaign of Hillary Clinton, according to the Washington Free Beacon.
He also co-founded a firm called Empowerment Capital Management that said it was focused on “socially responsible investing,” the Washington Free Beacon reported.