KXNT_35x90 cbssports1140-horizontal-small

News

Las Vegas Businessman Accused Of Mortgage Fraud Scheme

View Comments
Stock image of home for sale. (Credit: Tim Boyle/Getty Images)

Stock image of home for sale. (Credit: Tim Boyle/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

 LAS VEGAS (AP) — Prosecutors say a former Las Vegas businessman faces decades in prison and millions in fines for his role in a mortgage fraud scheme.

A federal jury in Las Vegas found Brett Depue guilty Tuesday of multiple conspiracy and wire fraud charges following a seven-day retrial. A judge set sentencing June 15.

The 38-year-old Depue lives inGilbert, Ariz. He operated businesses from 2005 to 2007 including ABS Investments Group LLC and Liberty Group Investments LLC.

He was accused of conspiring to recruit straw buyers with good credit to buy homes with mortgage applications containing false information, then renting the properties before selling them at a profit.

U.S. Attorney Daniel Bogden says 10 other co-conspirators have been convicted in the scheme.

Depue’s first trial ended Feb. 16 with a hung jury.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,006 other followers