Henderson man guilty of $7.5 million fraud
A federal jury convicted a Henderson man in a $7.5 million bank fraud scheme Wednesday following a six-day trial.
Brent Edward Lovett, 50, who ran Bay Resorts International, was accused of obtaining a fraudulent $7.5 million commercial loan from Lockheed Federal Credit Union in 2006 and then skimming some of the money for himself.
Senior U.S. District Judge Roger Hunt set a May 29 sentencing for Lovett, who is free on his own recognizance.
Lovett, who defended himself during the trial, faces up to 30 years in prison and a $1 million fine.
The case was investigated by the FBI, Nevada U.S. Attorney Daniel Bogden said.
Contact Jeff German at jgerman@reviewjournal.com or 702-380-8135.
