Owner of Property Management Companies Sentenced for Fraud and Embezzlement

Owner of Property Management Companies Sentenced for Fraud and Embezzlement

On Monday, November 14, 2016, Cody C. Halsey, 37, was sentenced to 33 months in federal prison followed by three years’ supervised release. Halsey pled guilty in July 2016 to defrauding nearly 250 clients of his former property management companies, Cascade Community Management and Noah and Associated, both which were located in Clackamas, Oregon.

Halsey admitted to embezzling $1,545,487 in tenant rents and security deposits entrusted to his property management companies from 2010 through July 2015. He 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.

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