Former Nevada Businessman Indicted for Mortgage Fraud

Former Nevada Businessman Indicted for Mortgage Fraud

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LAS VEGAS – A federal grand jury on Wednesday indicted a former Nevada investment company owner for mortgage fraud.

Authorities say Brett Depue spearheaded a mortgage fraud conspiracy that used straw buyers and multiple sales per property to funnel money from lenders to Depue's companies. Depue operated several Nevada businesses including: ABS Investments Group, LLC and Liberty Group Investments, LLC.

The indictment claims Depue's companies orchestrated fraudulent sales on 17 homes in Las Vegas and Henderson. Two of Depue's former employees, 36-year-old Brian Barney and 32-year-old Maria Ornelas, are also named in the indictment. They face charges for conspiracy to commit bank fraud, mail fraud, wire fraud and criminal forfeiture.

If convicted, each could face up to 30 years in prison and a $1 million fine on each count. They may also be required to forfeit up to $8.5 million in properties or proceeds from the crimes.

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