Las Vegas Sun

August 2, 2014

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Court suspends license of Las Vegas lawyer convicted of mortgage fraud scheme

The Nevada Supreme Court has suspended the law license of Las Vegas attorney Gerry Zobrist, convicted in a scheme to defraud banks.

The court Monday turned the case over to the Southern Nevada Disciplinary Committee of the Nevada Bar to make a recommendation for disciplinary action for Zobrist, who was sentenced to 87 months in prison and to repay $30 million to banks, including Wells Fargo.

He was also ordered to forfeit $1.1 million during the sentencing by District Judge James Mahan in September.

Documents submitted to the court said Zobrist was part of a conspiracy from 2006 to 2008, borrowing up to $53 million money to set up bogus real estate deals.

Under a plea agreement, Zobrist pleaded guilty to one count of conspiracy to commit wire and bank fraud. He is also to undergo five years of supervised release.

The disciplinary committee will make a recommendation to the court that will decide the final punishment.

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