Escrow theft of nearly $2 million reported in Nevada

Nevada Attorney General Adam Paul Laxalt announced that James Limperis, 54, of Las Vegas, pleaded guilty to one count of theft, a category “B” felony.

The theft occurred between April and October 2012, Laxalt said.

According to the indictment, Limperis is accused of withdrawing more than $1.7 million from an escrow account holding his victim’s money, and placing it into his own bank account, the attorney general’s office said.

Ultimately, the defendant spent the funds on personal expenses without the victim’s consent, the AG’s office added.

“Crimes such as this one can have devastating financial and emotional effects on victims who may be drained of years, if not a lifetime’s worth of savings,” Laxalt said. “This office is committed to seeking justice for victims of schemes that fleece them out of their hard-earned money, and will do so at every opportunity.”

The charge of theft is punishable by one to 10 years of imprisonment. The sentencing hearing for the defendant is scheduled for Nov. 7 in the Eighth Judicial District Court.

The Office of the Nevada Attorney General’s Criminal Prosecution Unit is responsible for the investigation and prosecution of this case.