Lawton Woman Pleads Guilty to Fraud Involving More Than $7 Million
OKLAHOMA CITY – Lori Christine Woodson, 62, of Lawton, pleaded guilty today to one count of bank fraud and one count of wire fraud, announced First Assistant U.S. Attorney Robert J. Troester.
According to an information filed on January 28, 2019, Woodson induced Fort Sill National Bank to loan her and another person $1,013,902 by making false representations to the bank. In particular, Woodson overstated the value of her interest in assets, including a condominium in Snowmass, Colorado, and a closely held real estate company. She additionally understated her liabilities to other banks by approximately $3 million. Also, according to the information, Woodson defrauded two acquaintances by misappropriating purported investments in Snowmass condominiums. The information seeks more than $7.5 million in criminal forfeiture.
At a guilty plea hearing today, Woodson admitted committing bank fraud and defrauding two acquaintances. At sentencing, she faces up to 30 years in prison, as well as a maximum $1,000,000 fine and a term of supervised release of up to five years for bank fraud. She also faces up to 20 years in prison, a maximum $250,000 fine, and a term of supervised release of up to three years for wire fraud. Sentencing will take place in approximately 90 days.
This case is the result of an investigation by the Department of Treasury’s Office of Inspector General and the FBI Oklahoma City Division, with the assistance of the Comanche County District Attorney’s Office and the Oklahoma State Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorney William E. Farrior.
Reference is made to court records for further information.