Attorney General Laxalt Announces Sentencing of Las Vegas Man for Securities Fraud

January 28, 2016

Defendant Ordered to pay $100,000 in Restitution

Las Vegas, NV – Nevada Attorney General Adam Paul Laxalt announced that Peter Ortmann, 60, of Las Vegas, was sentenced after pleading guilty in 2007 to one count of sale of unregistered securities, a category “B” felony. The fraud was committed between February and December 2006.

Ortmann sold unregistered securities to a victim who invested $100,000 with him. After pleading guilty to the crime of sale of unregistered securities in 2007, Ortmann failed to appear for sentencing, and a warrant was issued for his arrest. He was arrested in Washington State almost eight years later, and was subsequently sentenced.

“Perpetrators of financial fraud not only harm their victims, but the families and loved ones of their victims as well,” said Laxalt. “I am pleased that justice has been served in this matter after the defendant absconded from the law for nearly eight years, and will continue to aggressively prosecute frauds like this one.”

Eighth Judicial District Court Judge Stefany Miley sentenced Ortmann to 36-96 months in prison, and ordered him to pay $100,000 in restitution.

This case was investigated by the Nevada Secretary of State’s Office, and was prosecuted by the Nevada Attorney General’s Office.

To view the criminal Information, click here. To file a complaint with the Office of the Nevada Attorney General, click here.

Peter Ortmann of Las Vegas Sentenced for Securities Fraud
Ortmann, Peter

(Photo courtesy of the Las Vegas Metropolitan Police Department)