OKLAHOMA CITY – A Lawton woman who pleaded guilty to one count of bank fraud and one count of wire fraud was sentenced Jan. 7 to four years in prison and was ordered to pay $36 million in restitution, U.S. Attorney Timothy J. Downing announced. According to information filed on Jan. 28, 2019, Lori Christine Woodson, 63, induced Fort Sill National Bank to lend 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. At a guilty plea hearing on April 22, 2019, Woodson admitted committing bank fraud and defrauding two acquaintances.
U.S. District Judge Scott L. Palk sentenced Woodson on Jan. 7 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 divided among four bank victims and four individuals. The court allowed Woodson to self-report on Feb. 11, 2020, to complete her sentence. The case resulted from an investigation by the Department of Treasury’s Office of Inspector General and the FBI Oklahoma City Field Office, with assistance from the Comanche County District Attorney’s Office and the Oklahoma State Bureau of Investigation. The case was prosecuted by Assistant U.S. Attorney William E. Farrior.