By Logan Smith

WELD COUNTY, Colo. (CBS4) – A 51-year-old real estate agent accused of bilking clients out of more than $850,000 will appear in Weld County court Friday morning to be formally advised of charges being filed against him. Bret Lamperes faces five felony counts relating to theft, money laundering and tax evasion.

Lamperes, a Berthoud resident, turned himself in to authorities Tuesday and was jailed.

READ MORE: 'Going To Take Some Time': Community Gathers To Remember Victims, Heal Together After Olde Town Arvada Shooting

Investigators from the Weld County District Attorney’s Office, the FBI and the Colorado Department of Revenue believe Lamperes executed 29 sales contracts for the construction of condominiums but only built eight of them, the DA’s Office stated in a press release Thursday.

READ MORE: Water Quality Control Commission Votes Down Proposal To Allow More Pollution In Colorado Waterways

In total, investigators believe the defendant stole $852,510 from 15 victims who invested money into the project.

Bret Lamperes (credit: Weld County District Attorney’s Office)

According to investigators, Lamperes began operating through a business called Investments of Windsor, LLC, in February of 2015. An online database of Colorado businesses currently describes that company’s status as “delinquent.”

MORE NEWS: Colorado Woman Cassondra Stratton Missing After Miami Condo Collapse

Investigators are seeking additional victims and information.

Logan Smith