Houston Man Sentenced to 15 Months for Wire Fraud

Walter Salek, 48, was sentenced to 15 months in federal prison for defrauding an investor of over $1 million in a real estate scheme.Photo byVlad BusuioconUnsplash

Walter Salek, a 48-year-old Houston resident, was sentenced today to 15 months in federal prison, followed by three years of supervised release, for his involvement in a scheme to fraudulently obtain over $1 million, according to the U.S. Attorney's Office for the Southern District of Texas.

He was also ordered to pay $571,000 in restitution to the victim. Salek pleaded guilty to wire fraud on April 5.

During his sentencing hearing, the court heard testimony from the victim, who described how Salek falsely portrayed himself as a successful real estate developer, flying on private jets and offering investment opportunities that he claimed were exclusive to his family, the department stated.

According to the U.S. Attorney’s Office, the victim testified that the most painful part was not the financial loss, but Salek’s betrayal, particularly since Salek knew the victim’s wife was dying, leaving him with three children to care for.

The court also dismissed Salek’s claim that his actions were due to a “manic episode,” noting that the fraudulent conduct and subsequent cover-up spanned several years.

“Walter Salek committed clear-cut fraud, lived a carefree life until he got caught, and will now spend time in federal prison for his crime,” said Special Agent in Charge Douglas Williams of the FBI Houston field office.

“Salek took advantage of a long-time friend’s trust and money to finance his fraudulent property ventures, allowing personal greed to supersede the friendship and any opportunity for lawful prosperity.”

The U.S. Attorney’s Office further reported that between 2019 and 2021, Salek entered into agreements with an investor to develop real estate in the Houston area. Salek was to provide real estate while the investor supplied cash for development.

However, the department said, Salek diverted at least $571,000 for personal expenses, including mortgage payments and luxury vacations.

Salek remains free on bond and will voluntarily surrender to a U.S. Bureau of Prisons facility, which will be determined in the near future, the department stated.