Lawton Woman Sentenced to Four Years in Prison for Bank and Wire Fraud
Defendant Also Ordered to Pay More Than $3.6 Million to Fraud Victims
OKLAHOMA CITY – Lori Christine Woodson, 63, of Lawton, has been sentenced to four years in prison after pleading guilty to one count of bank fraud and one count of wire fraud, announced United States Attorney Timothy J. Downing.
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.
At a guilty plea hearing on April 22, 2019, Woodson admitted committing bank fraud and defrauding two acquaintances.
On January 7, 2020, U.S. District Judge Scott L. Palk sentenced Woodson to 48 months in prison and a three-year term of supervised release. Taking into account relevant conduct, the Court ordered restitution of $3,640,308.41 split among four bank victims and four individuals. The Court allowed Woodson to self-report on February 11, 2020, to complete her sentence.
This case is the result of an investigation by the Department of Treasury’s Office of Inspector General and the FBI Oklahoma City Field Office, 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. To download a photo of U.S. Attorney Downing, click here.