Additional lawsuit emerges alleging fraud in Windsor condo development

WINDSOR — A third lawsuit was filed this week against the developers of the Grasslands Park complex in Windsor, alleging that the developers had taken funds from the project to pay off personal loans and purchase a home.

In a complaint filed Wednesday in Weld County District Court, Windsor residents Angela and Myles Mead allege that in 2017, Bret Lamperes acted as their agent in buying a condominium that his company, Investments of Windsor LLC, was developing just south of Windsor Lake.

The sale was allegedly structured in a way where the Meads gave $100,000 to the company that would be second in repayment priority to a $700,000 construction loan. However, the complaint claims that Lamperes took out two other loans worth a combined $3.46 million that were not disclosed to the plaintiffs.

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The suit also claims that the property was supposed to be completed in 2018 but had been delayed until last spring, when another lender issued a foreclosure demand against the building.

At that point, the Colorado Real Estate Commission launched an investigation in which state regulators revoked Lampere’s real estate license and fined him $50,000. He was found to have violated rules against false advertising, moving funds from other people without their permission and demonstrated “unworthiness or incompetency to act as a real estate broker” in a way that endangered public interests, according to state records.

The suit claims that during that investigation, Lampere admitted to transferring $409,000 to his personal accounts from Investments of Windsor and used $15,000 to pay off personal expenses and transferred $321,000 to his business partner Richard Shrader, with $153,000 of that being used to buy a house. 

State regulators revoked Lampere’s real estate license last August and fined him $50,000. He was found to have violated rules against false advertising, moving funds from other people without their permission and demonstrated “unworthiness or incompetency to act as a real estate broker” in a way that endangered public interests.

The plaintiffs are asking the court to order repayment of their loan and other damages as determined by a jury.

Shrader is listed as the active registered agent of the Condominiums at Windsor Lakes Owners Association since last June, according to state records.

Lamperes is also a defendant in two other suits in state court filed in December, alleging that he made and later reneged on similarly structured deals to the Meads in the total of $300,000.

When reached by phone on Friday, Lamperes denied any impropriety and said the legal dispute was due to a business deal gone bad. He declined to provide further specifics. Shrader did not respond to a request for comment.