Larimer County man sentenced to jail, ordered to pay back $1M to investors in real estate scam

Monday, May. 06, 2024

A former Larimer County real estate agent was sentenced to jail and ordered to pay back more than $1 million to investors in a 2021 real estate scam in April, according to a news release from the Weld County District Attorney.

Bret Lamperes, 54, of Berthoud, pleaded guilty to one count of felony fraud or deceit in December 2023 and was sentenced to 90 days in the Weld County Jail, with credit for four days served, and 10 years of supervised probation, with strict financial conditions, on April 23, according to court documents. Lamperes also has to pay more than $1 million in restitution to investors in the scam.

Investigators said Lamperes, who was a real estate agent, entered into a business titled Investments of Windsor, LCC, in February 2015. He executed 29 sales contracts for condominiums for the project in Windsor. Only 8 of the 29 condos were built, according to the news release.

In 2021, Lamperes stole a total of $1,062,500 from more than a dozen victims who invested money into the project and spent it on luxury vacations, sporting events and other personal expenses, according to investigators.

“This man was living a lifestyle only some of us can dream about,” Chief Deputy District Attorney Michael Pirraglia said in the release. “It’s devastating to hear how this has had such a ripple effect on these victims and their families. 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.”

“Our goal with this was to help prepare us for retirement,” one victim said during the sentencing hearing on April 23, according to the release. “This money we worked really hard to save and we were looking to also use this for our children’s future.”

If Lamperes does not comply with the conditions of his probation, he will be sentenced to 18 years in the Colorado Department of Corrections, the release states.

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