Ex-property manager pleads guilty to embezzling HOA money
JACKSON, Miss. (WLBT) - David Luke Lane pleaded guilty to embezzlement charges, Acting U.S. Attorney Darren J. LaMarca announced Wednesday.
Prosecutors say Lane, 78, used his position as a property manager to defraud homeowners associations and Community Bank of Mississippi.
They say Lane defrauded the HOAs by making withdrawals from HOA bank accounts and converting them for his own use.
Lane is the former president of Ridgway Lane. In late 2019, a dozen HOAs filed lawsuits against Ridgway Lane over millions of missing dollars. A judge consolidated the cases into one, saying they were all similar.
Ridgway Lane managed multiple subdivisions in the metro, including Dinsmor, Palisades, and Pebble Creek.
Lane and his son shut down the business in the process, vacating the office amid the lawsuits.
Lane will be sentenced on February 11. He faces a maximum of 30 years in federal prison.
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