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Portland, Oregon
A ruthless embezzlement scheme has been brought to justice in the Pacific Northwest, as Cody C. Halsey, 37, was sentenced to 33 months in federal prison for defrauding nearly 250 clients of his former property management companies, Cascade Community Management and Noah and Associates.
Halsey pleaded guilty in July 2016 to embezzling $1,545,487 in tenant rents and security deposits entrusted to his companies from 2010 through July 2015.
The defendant falsified company records and sent clients false account statements to conceal these thefts. According to the Receiver who took over the property management companies after Halsey’s embezzlement came to light, many property owners who were Halsey’s clients experienced severe emotional and financial distress as a result of his crimes.
On Monday, November 14, 2016, U.S. District Judge Marco A. Hernandez ordered Halsey to pay restitution of $1,545,487 to his client victims.
“This sentence is a significant sanction for violating your clients’ trust,” said Billy J. Williams, United States Attorney for the District of Oregon. “Business owners who are entrusted with their clients’ money have a special obligation to handle it properly. We will continue to work with our partners at the FBI to identify and prosecute those in positions of trust who steal their clients’ money to enrich themselves.”
This case was investigated by the FBI and prosecuted by Seth D. Uram, Assistant United States Attorney for the District of Oregon.
Mandatory Facts:
- Defendant: Cody C. Halsey, 37
- Criminal Charge: Embezzlement
- City and State: Portland, Oregon
- Exact Date: November 14, 2016
- Sentence: 33 months in federal prison followed by three years’ supervised release
- Dollar Amount: $1,545,487
Key Facts
- State: Oregon
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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