Glidden woman faces charges for embezzling, filing false tax returnsA Glidden, Wis., woman was charged with one count mail fraud, one count of wire fraud, and five counts of filing false income tax returns in federal court in Wisconsin.
A Glidden, Wis., woman was charged with one count mail fraud, one count of wire fraud, and five counts of filing false income tax returns in federal court in Wisconsin.
Lori Hall, 49, Glidden, Wis., was indicted on allegation that from January 2006 to January 2012, Hall devised and participated in a scheme to defraud her employer The Lakewoods, Inc., which operated Lakewoods Resort in Cable, Wis., and operated as a management company for Lakewoods Villages Homeowners Association and Forest Ridges Homeowners Association.
The associations were created as homeowners associations for two condominium developments built on the grounds of Lakewoods Resort. In addition, PNE Investment Company was a holding company created by the three corporate managers of The Lakewoods, Inc., to operate and manage cabin rentals on the Lakewoods resort complex.
According to the allegations in the indictment: Hall worked at Lakewoods from Nov. 1, 1998, to Jan. 13, 2012, as chief financial officer. Beginning in January 2006, Hall embezzled funds from the homeowners’ associations and PNE bank accounts by presenting checks for signature with incorrect invoices, altered the payee line on checks after signed and procured an unauthorized signature stamp in the name of one of the corporate managers and used it to sign checks she prepared payable to herself.
Hall is accused of using the embezzled funds for her own personal purposes, which included funding gambling activity and vacation trips to Mexico and the Caribbean. It is believed Hall embezzled more than $702,000 between 2006 and 2012.
Hall is also charged with filing false U.S. Individual Income Tax Returns for five years between 2007 and 2011, which under-reported her adjusted gross income.
The indictment also seeks the forfeiture of any property constituting or derived from proceeds obtained directly or indirectly resulting from the fraud in the indictment. If convicted, Hall faces a maximum penalty of 30 years in federal prison on each fraud count, and a maximum penalty of three years in federal prison on each tax charge. The charges against her are the result of an investigation by Internal Revenue Service Criminal Investigation; the Wisconsin Department of Justice, Division of Criminal Investigation; and the Bayfield County Sheriff’s Department. The prosecution of this case has been assigned to Assistant U.S. Attorney Daniel J. Graber.