An AZ man will spend nearly the next 22 years in prison for mortgage fraud to the tune of more than $24 million.
The fraud scheme involved more than 100 properties in Las Vegas and Henderson, United States Attorney Daniel G. Bodgen announced.
Brett Depue, 38, of Gilbert, AZ, was also ordered to serve five years of supervised release and pay $1.5 million in restitution. He was convicted in March of conspiracy to commit bank fraud, mail fraud, wire fraud and criminal forfeiture.
Depue operated a number of Las Vegas businesses from 2005 to 2007. He and roughly 13 co-conspirators recruited straw buyers, typically friends and family members, to purchase homes. Frequently, fraudulent information was provided in order to obtain the loans.
In all, mortgage loans for 110 homes in Las Vegas and Henderson were obtained resulting in the loss of more than $24 million.
Ten co-conspirators were also convicted for their roles in the scam.
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