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ortgage fraud case
Posted: Mar 07, 2012 7:47 PM ESTUpdated: Mar 07, 2012 7:47 PM EST
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 in Gilbert, 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 Associated Press. All rights reserved. KPHO (Meredith Corporation) contributed to this report.
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