Steve Bachar is facing criminal charges of securities fraud and theft and will be disbarred. (BusinessDen file photo)
Steve Bachar, a Denver lawyer and businessman who is facing criminal charges of securities fraud and theft, will be disbarred on the same day he is scheduled to be arraigned.
A disciplinary judge ruled June 16 that Bachar, 56, violated Rule 8.4(c) of Colorado’s Rules of Professional Conduct for lawyers. That rule prohibits attorneys from taking part in “conduct involving dishonesty, fraud, deceit or misrepresentation.”
On Aug. 1, Bachar will lose his license, which is currently suspended because he hasn’t paid fees.
The ruling doesn’t mention the criminal charges against Bachar. Instead, it focuses on two civil court judgments against him in 2021 and the fact that Bachar hasn’t paid the amounts he owes.
Bachar must pay $3.8 million to Future Health Co., which won a court judgment against him last year after accusing Bachar of not paying for 3 million medical gowns he ordered in 2020.
He also owes $700,000 to DaVita, which won a separate court judgment against him in 2021. The dialysis company says it ordered 4,200 cases of N95 masks from Bachar in the early days of the pandemic, never received the masks and never received a refund. On June 15 of this year, DaVita sued Bachar for a second time, alleging he still hasn’t repaid the money.
In the criminal case, Bachar is accused of convincing an old friend to invest $125,000 in a company that made small panic buttons for women, then spending the money on personal expenses. He faces up to 12 years in prison and is being represented by a public defender.
Bachar, who did not respond to a request for comment this week, is scheduled to be arraigned Aug. 1 in Denver District Court on one count of securities fraud and one count of theft.
Steve Bachar is facing criminal charges of securities fraud and theft and will be disbarred. (BusinessDen file photo)
Steve Bachar, a Denver lawyer and businessman who is facing criminal charges of securities fraud and theft, will be disbarred on the same day he is scheduled to be arraigned.
A disciplinary judge ruled June 16 that Bachar, 56, violated Rule 8.4(c) of Colorado’s Rules of Professional Conduct for lawyers. That rule prohibits attorneys from taking part in “conduct involving dishonesty, fraud, deceit or misrepresentation.”
On Aug. 1, Bachar will lose his license, which is currently suspended because he hasn’t paid fees.
The ruling doesn’t mention the criminal charges against Bachar. Instead, it focuses on two civil court judgments against him in 2021 and the fact that Bachar hasn’t paid the amounts he owes.
Bachar must pay $3.8 million to Future Health Co., which won a court judgment against him last year after accusing Bachar of not paying for 3 million medical gowns he ordered in 2020.
He also owes $700,000 to DaVita, which won a separate court judgment against him in 2021. The dialysis company says it ordered 4,200 cases of N95 masks from Bachar in the early days of the pandemic, never received the masks and never received a refund. On June 15 of this year, DaVita sued Bachar for a second time, alleging he still hasn’t repaid the money.
In the criminal case, Bachar is accused of convincing an old friend to invest $125,000 in a company that made small panic buttons for women, then spending the money on personal expenses. He faces up to 12 years in prison and is being represented by a public defender.
Bachar, who did not respond to a request for comment this week, is scheduled to be arraigned Aug. 1 in Denver District Court on one count of securities fraud and one count of theft.
