| Missing Breckenridge Colorado real estate | | | | before. |
| attorney Royal "Scoop" Daniel, age 61, is now a | | | | Also that morning, Daniel gave a key for his |
| Wanted Man. Daniel was first reported missing | | | | residence to his girlfriend of five months. She |
| from his Breckenridge office on April 27th, 2007. | | | | found this odd because he never locked his door. |
| On May 8th, 2007 the Breckenridge Police | | | | Daniel also gave her some personal belongings |
| Department obtained an arrest warrant on | | | | which he said he would not need for awhile. |
| suspicion of Class 3 Felony Theft for Daniel in | | | | Investigations into Daniel's finances indicated the |
| connection with his handling of his client's 1031 Real | | | | he is in extreme debt and the he may have been |
| Estate Exchange funds. | | | | illegally moving money into and out of his Colorado |
| A 1031 Tax Deferred Real Estate Exchange | | | | Lawyer Trust Account Foundation (COLTAF) |
| occurs when a property owner sells investment | | | | client trust accounts, 1031 real estate escrow |
| real estate and uses the proceeds from the sale | | | | accounts, and his business and personal accounts |
| to purchase other investment real estate. In this | | | | to pay business expenses and personal debt. |
| case, the property owner does not pay capital | | | | On May 1st, 2007 a previous client of Daniel's |
| gains tax on the sale of the relinquished property | | | | contacted the Breckenridge Police Department |
| provided that the replacement property is of | | | | with information regarding a 1031 Real Estate |
| equal or greater value. Section 1031 of the | | | | Exchange transaction from a year earlier. The |
| Internal Revenue Code requires proceeds of the | | | | client stated that he had given Daniel over |
| sale to be held by an intermediary third party until | | | | $250,000 in trust as part of the transaction and |
| the replacement purchase is made. | | | | that when the time came to produce the money, |
| It is alleged that Daniel, while serving as an | | | | Daniel could not do so, admitting to having used |
| Intermediary for 1031 real estate exchanges, | | | | the money to pay other people's 1031 monies and |
| used client's funds to pay personal expenses and | | | | that he was $300,000 in debt. The client also |
| to fund the transactions of other 1031 real estate | | | | stated that Daniel eventually paid him most of his |
| clients. One investigator described this as a | | | | $250,000. |
| situation of "robbing Peter to pay Paul" and that it | | | | Since the initiation of the missing person case on |
| caught up to Daniel to the tune of at least | | | | April 27th, 2007, the Breckenridge Police |
| $500,000. | | | | Department has been contacted by seven of |
| When Scoop was first reported missing on Friday | | | | Daniel's clients indicating that Daniel was holding |
| April 27th, the belief throughout the Breckenridge | | | | 1031 Real Estate Exchange funds on their behalf. |
| community was virtually unanimous that he must | | | | Information provided by just four of these clients |
| have been the victim of wrong doing. Scoop has | | | | indicates that Daniel should be holding at least |
| been a long time resident of Breckenridge and is | | | | $561,571 of 1031 Real Estate Exchange funds in |
| beloved throughout the small mountain town. He | | | | trust accounts. Less than half this amount has |
| was very active in a local church and did a great | | | | been discovered in all of Daniel's various personal, |
| deal of volunteer work for a variety of local | | | | business, and trust accounts. Breckenridge Police |
| organizations. | | | | expect that records from the remaining three |
| These fears were amplified by information of a | | | | clients, as well as others yet to contact |
| silent a nine second 911 call made from Scoop's | | | | authorities, will widen the discrepancy in coming |
| cell phone on the morning of his disappearance. | | | | days. |
| Daniel also left his dog, car, keys, coat, and hat | | | | Despite these recent findings, many members of |
| behind at his office. | | | | the Breckenridge Colorado community continue to |
| That weekend over 150 volunteers, in conjunction | | | | believe that Scoop would never have created |
| with local authorities, conducted an extensive | | | | such a situation of his own accord and that he is |
| search of the area within a two mile radius of | | | | not a willing participant in it. This is a possibility |
| Daniel's office and the nearby alpine trails. No | | | | which authorities have not ruled out. |
| evidence of any wrongdoing or Daniel's | | | | Copyright 2007 - All rights reserved by Ted |
| whereabouts was found. | | | | Amenta |
| At the same time, Breckenridge Police | | | | Notice: Publishers are free to republish this article |
| investigated the possibility of Daniel's willful | | | | on an ezine or website provided the article is |
| disappearance. Police learned that Daniel had left a | | | | reprinted in its entirety including copyright and |
| paycheck for his secretary on her desk on the | | | | author information, and all links remain intact and |
| morning he disappeared. He had never done this | | | | active. |