Former Larimer County real estate agent sentenced to jail in $1 million investment scam

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A former Larimer County real estate agent has been sentenced to jail and ordered to pay back more than $1 million to investors that prosecutors say he stole during an investment scam.

Bret Lamperes, 54, was sentenced in Weld District Court on Tuesday to 90 days in jail followed by 10 years of supervised probation with strict financial conditions, according to a news release from the Weld County District Attorney’s Office.

Lamperes was also ordered to pay more than $1 million in restitution to 14 victims in the case. He pleaded guilty in December to securities fraud, a Class 3 felony, according to the news release.

Lamperes, who was a real estate agent at the time, entered into a business called Investments of Windsor LLC in February 2015, according to the news release. He executed 29 sales contracts related to that business in Windsor, but only eight of the 29 condos were built pursuant to those contracts.

In total, investigators say Lamperes stole $1,062,500 from people who invested money into the project. He was arrested in March 2021. Online court records allege the fraudulent activity occurred from 2017 to 2019.

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

Another victim told the judge that they trusted Lamperes “to do the right thing” with their investment, according to the release.

“It’s devastating to hear how this has had such a ripple effect on these victims and their families,” Chief Deputy District Attorney Michael Pirraglia said during Tuesday’s sentencing, according to the news release. “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.”

According to the news release, Pirraglia said Lamperes used investors’ money to fund his own luxury vacations, buy tickets for sporting events and for other personal expenses.

As part of the plea agreement, if Lamperes does not comply with the conditions of his probation, he will be sentenced to 18 years in prison, according to the news release.

This article originally appeared on Fort Collins Coloradoan: Former Larimer County real estate agent sentenced in $1 million scam