Another one percenter sentenced

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A former Las Vegas businessman has been sentenced to nearly 22 years in federal prison for masterminding a mortgage fraud scheme that cost financial institutions more than $24 million.

The Las Vegas Review-Journal reports that Senior U.S. District Judge Roger Hunt on Friday also ordered Brett Depue of Gilbert, Ariz., to pay $1.6 million in restitution.

Depue was accused of conspiring to recruit straw buyers with good credit to buy about 100 homes with mortgage applications containing false information, then renting the properties before selling them at a profit.

Prosecutors say he acknowledged making as much as $13 million off the scheme through investment companies he operated from 2005 to 2007.

The 38-year-old Depue was found guilty by a jury in March of multiple conspiracy and wire fraud charges.



http://www.cbsnews.com/8301-505245_162-57454705/mastermind-of-nev-mortgage-fraud-scheme-sentenced/
 
I wonder if the government thinks it can make us forget about the REAL economic failures by trotting out these small timers for us.

When you compare a debt of multiple trillions, to millions, it doesn't seem that large.
 
I wonder if the government thinks it can make us forget about the REAL economic failures by trotting out these small timers for us. When you compare a debt of multiple trillions, to millions, it doesn't seem that large.

So you think criminals are being prosecuted, tried and convicted to distract the populace from the debt?

Did you raise the alarm during Reagan's administration?

http://www.skymachines.com/US-National-Debt-Per-Capita-Percent-of-GDP-and-by-Presidental-Term.htm
 
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