A former investment fund adviser from Centennial and his Greenwood Village-based real estate firms have agreed to pay $9.7 million to settle accusations that he misled investors.

Tom Vukota, who now lives in the Bahamas, founded Vukota Capital Management and VCM Global Asset Management in 2010. They acquired dozens of apartment buildings and hotels, including the Miramar Apartments and Stratford at Lowry buildings in Denver.

Vukota, 52, and his companies controlled each property through a fund and sold interests in the funds to investors. In 2021, Vukota and VCM had 14 such funds, each of which controlled one apartment building, according to the U.S. Securities and Exchange Commission.

Four of those funds owned properties in Colorado Springs — the Villages at Woodmen, the Chestnut Sprin

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