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43-year-old man from Clovis has been charged with a $10 million real estate scam. Seth Adam Depiano is accused of conspiracy to commit wire fraud, wire fraud, money laundering conspiracy, and aggravated identity theft.
Depiano had previously served time for running a $24 million scheme in 2018. While incarcerated in federal prisons across the South, he orchestrated another fraud operation from behind bars. Using fake identities as a real estate broker, Depiano marketed and sold properties without owning them or having authority to do so.
He and his co-conspirators swindled around $10 million from victims in California, Nevada, and other areas. The money was laundered through Las Vegas casinos and businesses, with shell companies formed to purchase and hold real estate using victim funds. Some of the ill-gotten gains were even wired overseas.
Depiano is currently in custody and will appear in court on July 16. He faces up to 20 years for wire fraud and mail fraud, as well as a mandatory two-year sentence for aggravated identity theft.
