Friday, August 22, 2008

Man Gets 7 Years for Defrauding Banks in Oklahoma City

The Associated Press reports that a former Edmond resident, Michael Lloyd Lee, will now serve 80 months in prision for defrauding banks and an Oklahoma City Oil Company for $5.8 million.

Investigators alleged that Lee forged the signature of Raven Resouces, his former employer, on 203 checks drawn on the company’s account. Lee broke a federal money laundering law in November 2006 when he used funds derived criminally to purchase a 2003 Mercedes Benz totaling over $40,000.

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