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Acting U.S. Attorney Michele Beckwith announced that former Clovis resident Seth Adam Depiano has been indicted on charges of conspiracy to commit wire fraud, money laundering, conspiracy, aggravated identity theft and wire fraud while in federal prison. 

Depiano was previously sentenced to more than 12 years in prison in 2018 for a $24 million real estate Ponzi scheme. Depiano promised investors he would use their money to purchase residential properties and manage the properties for rental income or have them renovated or resold. He would promote properties to investors with falsified documents that represented high occupancy rates, and often had no authority to purchase or sell the properties and misled investors with fraudulent documents misrepresenting ownership.

Some of the properties marketed to investors didn’t exist.

While serving his sentence in 2021 and 2022 in Mississippi, Oklahoma and Florida, Depiano managed a $10 million real estate fraud scheme using contraband phones and computers, federal prosecutors say.

With the contraband phones and computers, Depiano used fake identities under the names “Marcus Lazaro” and “Steven Baron Sr.” to pose as a real estate broker selling properties he didn’t own or have the authority to sell, according to court documents.

Depiano and his co-conspirators allegedly used victim funds for money laundering through Las Vegas casinos, international wire transfers and shell companies to purchase properties and legitimate businesses. 

According to a news release from the Department of Justice, a majority of the victims were in California and Nevada.

The case was investigated by IRS Criminal Investigation and the Bakersfield Police Department, with help from the FBI and the Nevada Attorney General’s office. 

If convicted, Depiano faces a maximum statutory penalty of 20 years. 

Co-defendants Zahria Barber and Paola Quintero Beltran were also charged in the scheme. All three will have court dates on July 16.