A Colorado real estate agent and investor was sentenced to 90 days in jail and 10 years of supervised probation “with strict financial conditions” for stealing more than $1 million from investors in a real estate scam.
Bret Lamperes, 54, pleaded guilty last December to one count of securities fraud. In 2015, Lamperes entered into a business called Investments of Windsor LLC (IOW) and executed 29 sales contracts related to an IOW condominium project in Windsor, Colorado. However, only eight of the 29 condos were built pursuant to the sales contracts.
Lamperes stole $1,062,500 from victims who invested money into the project, which he used for personal expenses including overseas vacations and sporting events.
Weld County Judge Timothy Kerns also ordered Lamperes to pay more than $1 million in restitution to 14 victims. Lamperes will be incarcerated in the Weld County Jail – if he doesn’t comply with the conditions of probation, he’ll be sentenced to 18 years in the Colorado Department of Corrections.
“It’s devastating to hear how this has had such a ripple effect on these victims and their families,” said Chief Deputy District Attorney Michael Pirraglia. “Some of these victims, who were getting ready to retire, are now having to work several more years, and even having to work multiple jobs to make ends meet. All because of the greed and deceit at the hands of one man.”
Photo of Brett Lamperes courtesy of the Office of the Weld County District Attorney
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…and all he got was 90 days for ruining multiple families 🙁
When is this kind of crime going to be given stiffer penalties…this is nothing.
No Kidding! He got over a million dollars for 90 days in jail. Crime does pay!