A California man stands accused of bilking investors out of $ 20 million by running a real estate Ponzi scheme.

The U.S. Attorney’s Office for the Eastern District of California announced late last week that Seth Depiano was arrested in Las Vegas and charged with mail fraud, wire fraud and money laundering.

According to court documents, Depiano operated a Ponzi scheme that attracted real estate investors and convince them to give to him and the businesses he controlled, which included <strong…
Real Estate