Colorado Rescinded $103 Million in Broadband Grants

State officials canceled the funding after discovering potential misuse of taxpayer money by Maverix Broadband.

Updated on Sept. 21, 2026 in Financial Crime

Bold flat-color editorial illustration of a solitary utility pole in the plains, representing the suspension of broadband infrastructure funding. — The Colorado Broadband Office has rescinded $103 million in grants to Maverix Broadband after discovering invoices for work that was never performed. AI Illustration. Upload story photo >

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The Colorado Broadband Office has terminated $103 million in federal grants awarded to Maverix Broadband due to evidence of potential misuse. Officials froze payments after discovering invoices submitted for unperformed work.

Why it matters

The termination serves to protect public funds following the discovery that the company allegedly charged the state for work that never occurred. The move impacts critical infrastructure projects intended to expand high-speed internet access across rural and underserved areas.

State authorities referred the case to the Colorado Bureau of Investigation and the U.S. Department of the Treasury's Office of the Inspector General for further inquiry. Maverix Broadband is currently in Chapter 11 bankruptcy.

The players

Colorado Broadband Office

This state agency manages the deployment of high-speed internet infrastructure projects across Colorado.

Maverix Broadband

The Parker-based telecommunications company was the recipient of significant federal and state broadband expansion grants.

Colorado Bureau of Investigation

This state law enforcement agency provides investigative support and forensic services to local and state authorities.

The details

State grant managers identified approximately $3.2 million in invoices linked to work that was never performed or tasks that were canceled. Enhanced monitoring, including on-site inspections in project areas like Kiowa and Walsenburg, confirmed discrepancies between payment requests and project progress.

Maverix first applied for state broadband funding in 2021.
The company entered receivership in January 2026.
State officials learned of the firm's financial challenges in April 2026.
Monitoring and investigations of the company increased in June 2026.
Maverix Broadband filed for Chapter 11 bankruptcy on August 31, 2026.

Legal Context

The aggressive oversight by Colorado officials reflects a growing trend in state-level enforcement regarding the allocation of federal infrastructure funds. Similar to oversight models used in previous large-scale public works projects, this case emphasizes the shift toward mandatory on-site inspections for grant compliance.

Residents in project areas such as Livermore, Boulder, and Gilpin face delays in fiber deployment as the state works to re-bid these contracts. The office plans to resubmit these locations for future funding to ensure the target of 100 megabits per second remains attainable.

The takeaway

The state's decisive action highlights the importance of rigorous monitoring when deploying multi-million dollar infrastructure grants. Residents should look for future announcements regarding new bidding processes as Colorado seeks to secure alternative partners to finish these projects.