Trio with LO tie convicted on fraud, money-laundering charges
Bend company had local office
After two and a half days of deliberations following a three-week trial, a jury found Mark Neuman, Lane Lyons and Timothy Larkin guilty of conspiring to defraud the clients of their former business, Summit Accommodators Inc., by misrepresenting how they would hold and use client funds.
A jury convicted the three on July 3 in federal court in Portland.
Summit, which opened in Bend in the 1990s, had affiliate offices in Lake Oswego as well as locations in Montana, Nevada, Texas, Utah, Washington and Wyoming.
Neuman, a certified public accountant, and Lyons, an attorney, are from Bend; Larkin is from Redmond. Brian Stevens, another one-time owner and operator of Summit from Bend, previously pleaded guilty to similar charges and testified against his former business partners during the trial.
The defendants were accused of using $75 million in client funds for undisclosed personal investments in real estate, investments in businesses in the Bend area and loans to business associates and family members.
Several thousand clients entrusted the company with more than $1 billion from 1999 to 2008, when the business closed and filed for bankruptcy, according to the U.S. Attorneys Office in Portland.
Attorneys, certified public accountants and business executives who, motivated by greed, lie to clients to gain use of their money for personal purposes are especially deserving of prosecution and punishment, U.S. Attorney Amanda Marshall said in a public statement.
The case was investigated by the FBI, IRS criminal investigation unit, U.S. Postal Inspection Service and Oregon Division of Finance and Corporate Securities.
Sentencing is scheduled for Oct. 23 before U.S. District Judge Anna J. Brown.Add a comment