A jury has convicted an Arizona man of mortgage fraud in Nevada, a scheme that defrauded financial institutions of millions of dollars.
Brett Depue, 42, of Gilbert, Ariz., was found guilty of one count of conspiracy to commit mail, bank and wire fraud, and seven counts of wire fraud.
The conviction is the second time Depue has been found guilty of the charges, after a previous conviction was overturned by the Ninth Circuit Court of Appeals.
The scheme, which operated from 2005 to 2007, involved recruiting straw buyers to purchase homes in Las Vegas and Henderson that Depue would control. He would then direct co-conspirators to prepare mortgage applications containing false and fraudulent information, allowing the straw buyers to qualify for the loans.
Using this scheme, Depue and his co-conspirators obtained mortgage loans for 110 homes in Las Vegas and Henderson, resulting in estimated losses of $24 million to financial institutions.
Depue was remanded to custody and is scheduled to be sentenced on November 9 at 9:00 a.m. He was convicted in a four-day jury trial that began on an undisclosed date.
The investigation was conducted by the FBI, and the case was prosecuted by Assistant United States Attorneys Sarah E. Griswold and Lisa Cartier-Giroux.
This prosecution is part of efforts underway by President Barack Obama’s Financial Fraud Enforcement Task Force to investigate and prosecute financial crimes.
Related Federal Cases
- Philip James Layfield, Wire Fraud, Nevada 2023 · Colorado
- Anubor Bagbi, Bank Fraud & Identity Theft, Nevada 2023 · New Hampshire
- Vincent Okoye, Mail Fraud Conspiracy, Nevada 2022 · Nevada
- William Cordor, Wire Fraud and Aggravated Identity Theft, Nevada 2021 · Florida
- Kadeidra Ra’Shawon White, Wire Fraud, Arizona Ohio Nevada 2020 · Kentucky
Key Facts
- State: Nevada
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News