Ex-real estate agent jailed for stealing $1M from investors in 2021

Published on April 26, 2024

Bret Lamperes Mugshot

GREELEY, Colo. (Weld County D.A.) – A Weld County judge this week sentenced a former Larimer County real estate agent and investor to jail, after he stole more than $1 million from investors in a 2021 real estate investment scam.

On Tuesday, Judge Timothy Kerns sentenced 54-year-old Bret Lamperes to 90 days in the Weld County Jail and 10 years of supervised probation with strict financial conditions. In addition, Lamperes was also ordered to pay more than $1 million in restitution to 14 victims.

In December of last year, the defendant pleaded guilty to one count of Securities Fraud – Fraud or Deceit.

According to investigators, the defendant, who was a real estate agent at the time, entered into a business in February of 2015 called Investments of Windsor, LLC (IOW).

The defendant executed 29 sales contracts related to the IOW project located in Windsor. However, only eight of the 29 condos were built pursuant to the sales contracts.

In total, the defendant stole $1,062,500 from victims who invested money into the project.

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

“In faith, we gave Bret our money to invest in this real estate transaction,” another victim said. “We trusted him to do the right thing.”

Instead of doing the right thing, Chief Deputy District Attorney Michael Pirraglia said the defendant used the money for luxury vacations overseas, sporting events, and for multiple other personal expenses.

“This man was living a lifestyle only some of us can dream about,” CDDA Michael Pirraglia said. “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.”    

Before handing down the sentence, Judge Kerns told the defendant that he took money that wasn’t from his own hard work or sweat.

“It was all about self-interest,” Judge Kerns said. “That’s what prevailed here. To a tune of a million dollars.”

As part of the plea agreement, if the defendant doesn’t comply with the conditions of probation, he’ll be sentenced to 18 years in the Colorado Department of Corrections.

The agencies involved in this investigation include: the Weld County District Attorney’s Office, the Federal Bureau of Investigation, and the Colorado Department of Revenue.

Chief Deputy District Attorneys Michael Pirraglia and Patrick Roche prosecuted this case.

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