A 37-year-old Waverly man has been convicted of three counts of wire fraud by a federal jury in Omaha. Nolde operated BV Builders, which billed itself as a construction company specializing in barndominiums and shouses, or shed-houses.
That typically refers to a large, open-concept building constructed with metal or wood framing and clad in metal siding and roofing. These structures are used for residential purposes and can incorporate a workshop, garage, or room for animals.
Evidence at trial showed that between July 2022 through early 2024, BV Builders advertised that it could build customers the house of their dreams. Prosecutors say the company would get a large down payment or draw a large amount from a customer’s construction loan and then represent that the money was going to pay subcontractors and suppliers for their work on the customer’s build.
Instead, the money went to fund Nolde’s personal interests or other purposes. The customers were left with no dream houses, and often with construction liens on their property, because the subcontractors and suppliers did not get paid for the work they provided. Dozens of victims testified at trial to the devastating financial crimes.
The jury deliberated for slightly more than two hours before returning a guilty verdict for each of the three counts. Nolde’s sentencing is set for May 13 at 1:30 p.m. Each of the wire fraud counts carry a possible penalty of up to 30 years in federal prison and a fine of up to $1,000,000. Nolde could also be ordered to pay restitution to the victims of his crimes.