The Colorado Broadband Office terminated Maverix Broadband’s BEAD grants after an enhanced monitoring review flagged multiple problems and referred the matter to criminal and federal investigators.
Colorado canceled $103 million in BEAD grants to Maverix Broadband after a probe found canceled invoices, unpaid contractors, and about $3.2 million in missing funds.
Maverix had been awarded roughly 10,232 locations — the second-highest number in the state and nearly 25% of Colorado’s BEAD allocation — and the state will rebid the affected locations.
The case has been referred to the Colorado Bureau of Investigation and U.S. Treasury Inspectors for further action.
# What happened Colorado's Broadband Office (CBO) terminated BEAD grants awarded to Maverix Broadband after an internal enhanced monitoring review turned up multiple financial and contract problems. The CBO says the review identified canceled invoices, unpaid contractors, and about $3.2 million in missing funds linked to Maverix projects.
# Why it matters Maverix was awarded about 10,232 locations under Colorado's BEAD allocation — the second-highest number of locations among awardees — and received the largest single subsidy in the state: about $103 million, or nearly 25% of Colorado's BEAD share. Removing that award affects deployment plans for thousands of locations and forces the state to rebid the work.
# What the agency found and did The CBO's enhanced monitoring flagged financial irregularities and contract performance issues. The agency terminated Maverix's BEAD grants and referred the matter to both the Colorado Bureau of Investigation and U.S. Treasury Inspectors for further probe and potential enforcement.
Interim CBO director Alison Terry said, "What we ended up finding in the enhanced monitoring was that Maverix had done this for more than just one vendor." That statement signals the agency believes the issues extend beyond a single subcontractor or vendor relationship.
# Immediate consequences
# Parties' positions The CBO has publicized its findings and moved to terminate contracts and refer the case to investigators. Separate reporting notes that a Colorado ISP disputed the state's claim that it misused grant funds. Beyond that dispute, the CBO proceeded with termination and referrals based on its monitoring results.
# Wider context for BEAD deployment BEAD funds are intended to subsidize broadband deployment to unserved and underserved locations. A single large cancellation like this shifts a substantial share of a state's planned deployments back into procurement, delaying construction and service delivery for affected locations.
# What to watch next
# Bottom line Colorado pulled a major BEAD award after its enhanced monitoring uncovered canceled invoices, unpaid contractors, and missing funds. The decision affects a large share of the state's BEAD deployments and has prompted criminal and federal investigations, with the state moving to rebid the locations involved.
The state is rebidding the 10,000 affected locations
A Colorado ISP also disputed the state’s claim that it misused grant funds
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BEAD’s next phase will depend on workable contracts, timely permitting and consumer-focused accountability as broadband projects move toward construction.
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