Owner of Clackamas Property Management Companies Sentenced to 33 Months in Prison
PORTLAND, Ore. – On Monday, November 14, 2016, U.S. District Judge Marco A. Hernandez sentenced Cody C. Halsey, 37, to 33 months in federal prison followed by three years’ supervised release. Halsey plead guilty in July 2016 to defrauding nearly 250 clients of his former property management companies, Cascade Community Management and Noah and Associates, both of which were located in Clackamas, Oregon. District Judge Hernandez also ordered Halsey to pay restitution of $1,545,487 to his client victims.
Halsey admitted to embezzling $1,545,487 in tenant rents and security deposits entrusted to his property management companies from 2010 through July 2015. He falsified company records and sent clients false account statements to conceal these thefts. According to the Receiver who took over the property management companies after Halsey’s embezzlement came to light, many property owners who were Halsey’s clients experienced severe emotional and financial distress as a result of his crimes.
“This sentence is a significant sanction for violating your clients’ trust,” said Billy J. Williams, United States Attorney for the District of Oregon. “Business owners who are entrusted with their clients’ money have a special obligation to handle it properly. We will continue to work with our partners at the FBI to identify and prosecute those in positions of trust who steal their clients’ money to enrich themselves.”
This case was investigated by the FBI and prosecuted by Seth D. Uram, Assistant United States Attorney for the District of Oregon.