California man already in prison for fraud ran new $10 million scheme from cell, prosecutors say

Thaddeus Miller, The Sacramento Bee on Jan 17, 2025

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SACRAMENTO, Calif. — A Clovis man who was already in prison after being convicted of a ponzi scheme appeared in federal court Thursday for a new indictment for allegedly running more fraud schemes from a jail cell, prosecutors said.

Seth Adam Depiano, 43, has been charged with conspiracy to commit wire fraud, wire fraud, money laundering conspiracy and aggravated identity theft in connection to allegedly managing a new $10 million real estate scheme, Acting U.S. Attorney Michele Beckwith said in a news release.

Despiano was already serving a nearly 13-year sentence after he was found guilty in 2018 of a scheme to defraud 28 investors of about $24 million.

In the new case, Despiano is accused of running a network in 2021 and 2022 while posing as a broker from his cell in federal prisons in the states of Mississippi, Oklahoma and Florida, prosecutors said.

He was accused of using contraband phones and computers while using the fake identities of “Marcus Lazaro” and “Steven Baron Sr.” to market and sell property that did not exist, prosecutors said.

Co-conspirators allegedly aided in the scheme to meet investors in person. The crew is accused of collecting the money from victims in California, Nevada and other locations.

Prosecutors said the crew laundered the money through Las Vegas casinos and other businesses, as well as formed shell companies to purchase and hold real estate.

During his 2018 sentencing, Despiano’s mother pleaded for leniency through a letter she submitted to the Fresno court.

She wrote she was heartbroken. “I believe Seth needs help, but locking him up for a long time could only make it worse. He won’t be able to get the help that he needs being locked up for a long time.”

“I am not sure what happened on his way to adulthood,” she said.

His next court date is July 16.

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