Dallas -- A Colorado developer has been indicted on 20 counts of misusing public funds from a $31 million bond issue designed to finance an upscale housing development in affluent Greenwood Village.

Zach Davidson created the Marin Metropolitan District that issued the taxable bonds for a European-style development near other high-rise residential properties he had successfully developed.  When the economy collapsed in 2008, the European village was scrapped and the developer declared bankruptcy.

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