EUGENE, Ore. (AP) - A former Eugene property manager has pleaded guilty to federal charges of wire fraud.
The Register-Guard reports (https://is.gd/qOvdRk ) that 63-year-old Terry Shockley on Wednesday admitted that he engaged in a scheme to defraud clients and investors, resulting in a loss to victims of more than $3.5 million.
Shockley managed rental properties in Eugene for several years up until he surrendered his real estate license in 2015 while under investigation. Federal prosecutor Nancy Olson says Shockley misused his clients’ money, which should have been paid to the property owners, between 2012 and 2015.
In court, Shockley said he provided victims with monthly statements showing rental income and deposits he supposedly held in a trust account but that he in fact had spent.
Sentencing is scheduled for Sept. 6.
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Information from: The Register-Guard, https://www.registerguard.com
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