Associated Press - April 5, 2011 5:54 PM ET

http://www.kgwn.tv/Global/story.asp?S=14389627

DENVER (AP) - The owner of a Colorado-based rural health brokerage has been indicted by a federal grand jury on charges of mail fraud, embezzlement and 18 counts of money laundering.

The U.S. attorney's office in Denver says 59-year-old Gerald Rising Jr. is accused of mixing trust funds from clients in violation of the trust agreement and falsely saying his Rural Health Plans Initiative had paid claims.

The Denver Post reports that Rising represented his company as a third-party administrator for small non-profits and private companies. He signed up school districts, nursing companies and town administrations in Colorado, Kansas and Oklahoma.

Rising's first court appearance is Wednesday. He faces up to 20 years and potentially millions of dollars in fines if convicted.

A number listed for Rising in Centennial, Colo., has been disconnected.