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Former Lakewoods CFO Pleads Guilty to Fraud, Filing False Return

Created: 01/29/2014 11:06 PM WDIO.com

The former Chief Financial Officer of Lakewoods, Inc. — the group that operated Lakewoods Resort in Cable, homeowner associations, and a holding company — plead guilty Wednesday to one count of mail fraud and one count of filing a false income tax return.

As part of the plea in U.S. District Court, 51-year-old Lori Hall of Glidden admitted that she embezzled $702,130.79 from the company for her own personal purposes, including gambling activity, according to the office of U.S. Attorney John Vaudreuil.

The money was apparently embezzled during a mail and wire fraud scheme from 2006-2012.

Hall faces up to 20 years in prison for the mail fraud charge and three years in prison for the false tax return charge.

Sentencing is set for April 16th.

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