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Penalty for filing Fraudulent Lien?

ColoradoLien Priority

I fired a contractor who did not complete the full scope of my basement renovation in the time allowed (originally quoted 1 week, project dragged for 5 months). I have paid him in full for every line item that is 100% complete, and even paid him a discretionary amount for incomplete line items proportional to their completion. I expect a lien to be leveled on my property regardless for an amount <$1,000. I have excellent project documentation, what are the consequences in Colorado for the accuser if the lien is proven to be fraudulent and / or exaggerated? What statutes are these defined in?

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