Valley investor Lou Zangerle dies
A memorial service for one of the investors in failed Valley Investments will take place Saturday.
Lou Zangerle, 71, died Feb. 5 after a collision Jan. 29 in a parking lot.
Zangerle was a regular attendee at hearings involving Philip Rand Lochmiller, who faces federal criminal charges in connection with the collapse of Valley Investments.
Zangerle in one hearing in federal court shook his fist at Lochmiller.
“He was always trying to get (Lochmiller’s) attention,” to get him to return investors’ money, Zangerle’s wife, Charlotte, said.
Despite having lost thousands of dollars, her husband was a positive influence among investors who attended the hearings, Charlotte said.
“He was so positive about everything,” Charlotte said. “He always said to concentrate on what we have and not on what we don’t have.”
Lou Zangerle and his brother Joe answered Lochmiller’s calls last spring for investments of $25,000 each, ostensibly for work on Valley Investment’s housing project in La Junta. Both were promised returns of 16 percent, but realized their money was lost when Valley Investments collapsed weeks later.
Lochmiller and his son, Philip Rand Lochmiller Jr., and an employee, Shawnee Carver, face multiple mail- and securities-fraud-related charges in connection with the case.
Prosecutors are hoping to try the case in Grand Junction. Charlotte Zangerle said she will attend the hearings and trial if they are conducted in Grand Junction.
Investigators say more than 400 Valley Investment investors lost about $31 million.
“I want to add my support to the rest of the group,” she said. “That’s what Lou would want.”
Although he doesn’t represent investors, Kirk Rider, the Grand Junction attorney who was appointed receiver for the company, said he became acquainted with Lou Zangerle at a downtown gym.
“He was a nice man,” Rider said. “I really did think the world of him.”
A memorial will take place at 10 a.m. Saturday at Appleton Christian Church, 2510 Interstate 70 Frontage Road.