LAS VEGAS, Nev. (KOLO) – A Las Vegas man has been sentenced to 51 months in prison for defrauding more than $7 million from loan lenders.
47-year-old Brandon David Sattler will serve three years of parole after his release.
A court found that, between Feb. 1, 2017, and Oct. 1, 2018, Sattler devised a scheme to defraud and obtain loans from three individual loaners. As part of the scheme, Sattler made false representations that his company needed the loans to fulfill renovation contracts he had with a hotel and a casino.
Sattler altered information from his bank to show that he had more than he actually did in order to influence the lenders to give more money to his company.
After he obtained the loans, Sattler made misrepresentations in order to extend the maturity date of the loans and delay the deadline for repayment.
He pleaded guilty to one count of wire fraud and also has prior convictions in California and Texas.
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