The old definition of “hutzpah” refers to a man who murders his parents, then asks for mercy on account of being an orphan.
Philip Rand Lochmiller, the mastermind of a $30 million scam that caused great pain for many western Colorado investors, most of them elderly and dependent on their investments for income, wants to be let out of federal prison because of an undisclosed ailment or condition apparently related to his age, 66.
He has sought a “compassionate release” from prison.
So, the man who took advantage of elderly people now wants a break, apparently, on account of being elderly.
We’re not sympathetic.
Lochmiller used millions of dollars in investor money to finance an excessive lifestyle that included a condo in Mexico, extravagant vacations, expensive vehicles, and on and on.
His dubious dealings ensnared his son and an assistant at Valley Investments, the center of his Ponzi scheme, each of whom also were sentenced to prison in connection with Lochmiller’s scam.
It’s quite clear that Lochmiller knew the travail that his victims has suffered. Compassion wasn’t exactly the hallmark of his conduct when others were suffering.
Many of his investor-victims died before they could learn of his trial and sentence.
Lochmiller offered no discernible reservations about his conduct. In fact, he had run a similar scam in California, served time there, then moved to Colorado and eventually Grand Junction, where he started a new scheme to separate people from their cash using promises he knew he could never fulfill.
It’s hard to suspect that Lochmiller isn’t simply running another scam, one that could set him free to prey again.