Las Vegas man indicted for loan fraud

Las Vegas man indicted for loan fraud

CREATED Jul 2, 2014

Nevada Attorney General Catherine Cortez Masto announced that Mark Edward Shelton, 45, of Las Vegas, was indicted by a Clark County Grand Jury for loan fraud.

Shelton is accused by the Clark County Grand Jury of having solicited victims to pay substantial fees for "guaranteed" business loan acquisition. Victims paid Shelton "fees" as large as $7,495 and did not receive the loans they had been promised.

The charges include:

- Two counts of theft by material misrepresentations in the amount of $3,500 or more
- Two counts of theft in the amount $650 or more
- One count of multiple transactions involving fraud and deceit in the course of enterprise or occupation
- Four counts of unlawful receipt of money to obtain a loan for another

Shelton was arrested on June 27 and is presently in custody. He is scheduled to appear in District Court, Department 21 on July 3 at 9:30 a.m. on an indictment warrant return.