Permanent Injunction Entered Against Longmont-Based Mining Company BioGreen

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For Immediate Release

Media Contact:
Annelise Grygiel
[email protected]

Denver — June 18, 2025 — The Denver District Court entered a permanent injunction against BioGreen Technologies, Inc. and its CEO Jorge Oteo on June 6, 2025. The court’s order permanently restrains and enjoins the defendants from the sale and solicitation of securities in violation of the licensing requirements of the Colorado Securities Act.

BioGreen Technologies, a Longmont-based mining company, and Oteo sought to develop a zeolite mine in Mexico. They allegedly offered and sold shares of stock and promissory notes to more than 30 investors. Neither BioGreen Technologies nor Oteo had a broker dealer or sales representative license. They also allegedly led investors to believe the company owned the mining concessions when Oteo personally held them.

In 2023 and 2024, the defendants agreed to consent orders issued by Colorado Securities Commissioner Tung Chan. The orders required the defendants to repay all investors by May 27, 2025. The defendants also agreed to the entry of a permanent order of injunction against them to be filed in court if they failed to make repayment.

The defendants failed to repay all investors by May 27, 2025. On June 6, 2025, the Denver District Court issued a permanent order of injunctions against defendants for the sale and solicitation of securities in violation of the Colorado Securities Act.

If you’ve lost money to an investment scam, contact the Division of Securities by mail or by phone at 303-894-2320. To verify that someone promoting an investment opportunity is licensed, visit Investor.Gov.

About DORA and the Division of Securities

DORA is the state’s umbrella regulatory agency, charged with managing licensing and registration for multiple professions and businesses, implementing balanced regulation for Colorado industries and protecting consumers. Our nearly 600 employees are dedicated to preserving the integrity of the marketplace and promoting a fair and competitive business environment throughout Colorado.

The Division of Securities exists to protect investors and maintain confidence in the securities market, while avoiding unreasonable burdens on the marketplace by licensing securities professionals, enforcing securities law violations and helping Coloradans become more informed investors.