PLANO, TX—A 68-year-old Dallas man has been indicted in a commercial real estate investment scheme in the Eastern District of Texas, announced U.S. Attorney John M. Bales today. Eric Brauss was named in a 10-count indictment for his role in defrauding investors in a commercial real estate investment scheme. The indictment was returned by a federal grand jury on Feb. 16, 2011. The indictment alleges that Brauss raised investment capital for two large-scale retail development projects in New Mexico and Fort Worth—Unser Towne Crossing and Parkwood Crossing, respectively—by making false material representations to investors. The indictment further alleges that based on Brauss' false representations, investors provided $2,042,000 in payments to Brauss for the Unser project and $5,998,925 in payments to Brauss for the Parkwood project, and that Brauss used most of the investment capital raised for expenditures unrelated to the two projects. Brauss faces up to 20 years in federal prison...