Friday’s hearing ends Dragul’s criminal cases. A civil trial is scheduled for next month.
The 61-year-old must also pay $1 million in restitution, serve eight months of house arrest and complete 200 hours of community service.
The trial in Centennial could be followed by a second criminal trail, as well as a long-delayed civil one.
The indicted businessman lost his attorneys last week and a judge refused to reschedule one of his two spring trials.
A disbarred lawyer who struck a deal with prosecutors, a developer accused of misleading investors, and more.
The sale sets up a legal fight over where exactly the money will go.
Three years after the indictment, the Attorney General’s Office admitted the securities fraud charges were based on activities beyond the statute of limitations.
Marlin Hershey is accused of working in concert with Dragul, an alleged Ponzi schemer, to bilk millions of dollars from Denver area investors.
“The testimony does suggest that this is a nuisance value settlement,” the judge said, meaning it was cheaper for the law firm than fighting a lawsuit in court.
No party involved is particularly happy, but the law firm said settling would be cheaper than legal fees.