United States Attorney's Office for the District of Nevada

12/03/2024 | Press release | Distributed by Public on 12/03/2024 14:05

Las Vegas Man Sentenced To Prison For Defrauding More Than $7 Million From Loan Lenders

Press Release

Las Vegas Man Sentenced To Prison For Defrauding More Than $7 Million From Loan Lenders

Tuesday, December 3, 2024
For Immediate Release
U.S. Attorney's Office, District of Nevada

LAS VEGAS - A Las Vegas resident was sentenced today by United States District Judge Gloria M. Navarro to 51 months in prison to be followed by three years of supervised release for orchestrating a scheme to defraud loan lenders and cause more than $7 million in losses.

According to court documents, from February 1, 2017 to October 1, 2018, Brandon David Sattler, 47, devised a scheme to defraud and obtain loans from three individual lenders. As part of the scheme, Sattler made false representations that his company needed loans to fulfill renovation contracts that he had with one hotel and casino and claimed to hold with other hotels and casinos. Sattler altered information from his bank to show his bank account held more than it actually did in order to influence the three individual lenders to loan money to his company. After obtaining the loans, Sattler made misrepresentations in order to extend the maturity date of the loans and delay the deadline for repayment. In total, Sattler caused a loss of more than $7 million.

Sattler pleaded guilty to one count of wire fraud. He has two prior convictions for fraud in California and Texas.

United States Attorney Jason M. Frierson for the District of Nevada and Special Agent in Charge Spencer L. Evans for the FBI made the announcement.

This case was investigated by the FBI, and Assistant United States Attorney Daniel Schiess prosecuted the case.

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Updated December 3, 2024
Topic
Financial Fraud
Component