Woman pleads guilty to over $7M in fraud
A 62-year-old Lawton woman pleaded guilty Monday to two federal charges relating to over $7 million in fraud.
Lore Christine Woodson pleaded guilty to one count of bank fraud and one count of wire fraud, according to First Assistant U.S. Attorney Robert J. Troester.
The plea follow information filed Jan. 28, that asserted that 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, Colo., 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.
During Monday’s guilty plea hearing, Woodson admitted to committing bank fraud and to defrauding two acquaintances.