Show Three Charged in Denver for Grand County Uranium Fraud a I Three Colorado businessmen were charged in an indictment last week by the Colorado federal grand jury for a uranium uranium uranium uran uran- ium fraud involving properties in the Yellow Cat district Of Grand county south of Thomp Thomp- son Named In the charges were Silas M. M Newton 69 formerly of Denver and amI now of Phoenix Ariz Charles C. C Neilson 61 64 of Denver and Stanley C. C Miller Mil MU ler 63 of Berthoud Colo Cob Neilson Neilson Nellson Neil Neil- son and Miller are arc securities dealers U. U S. S Attorney Donald E. E Kelley Kel- Kel Icy ley said the trio is accused of selling between and in securities as interest inter Inter- est eat In mining properties InI in inGrand inGrand Grand county whose uranium I ore was rejected as too low grade by the Atomic Energy commission The indictment charged the trio began their scheme to defraud defraud de- de fraud prior to April 2 1954 In December 1953 Newton was convicted of swindling a Denver Denver Denver Den Den- ver manufacturer of by y selling a worthless doodle bug I oil finder He lie was given probation probation proba proba- tion In the case in June 1951 The U. U S. S Attorney stated that the three sold stock in the Yellow Yellow Yellow Yel Yel- low Cat Royalty Trust and the Tennessee Queen Royalty Trust during 1954 and 1955 and claimed claim claim- ed to prospective buyers that the properties contained uranium uranium uran uran- ium lum ore reserves valued at more than 11 million They also claim the Indictment indictment indictment indict Indict- ment said that the company was in operation that investors would almost Immediately receive receive receive re re- re- re royalty checks and the In Investment Investment investment In- In vestment was vas secure because a leading Denver bank was trustee trus trus- tee To substantiate their claims the trio mailed false lettel's letters letters let let- tel's reports and brochures to buyers thus attempting to lull the persons to be defrauded into a false sense of security with respect to the purchases the indictment charged charted If It convicted of the charges the men could be sentenced to 65 65 years in prison and fined |