South Lake Tahoe Woman Charged in Fraud Scheme
|U.S. Attorney’s Office July 06, 2010|
SACRAMENTO, CA—United States Attorney Benjamin B. Wagner and Federal Bureau of Investigation Special Agent in Charge Drew Parenti announced that a federal grand jury indicted Lori Zoval, 45, of South Lake Tahoe, today, charging her with wire fraud in connection with an investment fraud scheme.
This case is the product of an extensive investigation by the FBI. Assistant United States Attorney Robin Taylor is prosecuting the case.
According to the indictment, Zoval was a licenced securities broker with a firm in Folsom. Zoval used her position of trust to steal more than $439,000 from a couple for whom she managed investments. It is alleged that Zoval spent the stolen funds at casinos, restaurants, nail salons, as well as to pay for travel, gas, groceries, and other personal expenses, without the knowledge and consent of the victims. To conceal the fraud, Zoval created false documents, many of which she forged and had notarized. She also sent the victims false and misleading account statements.
Zoval is scheduled for arraignment before United States Magistrate Judge Kendall J. Newman on July 13, 2010, at 2:00 p.m. If convicted of the charges, she faces a maximum statutory penalty of 20 years in prison and a $250,000 fine for each violation. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory sentencing factors and the Federal Sentencing Guidelines, which take into account a number of variables.
The charges are only allegations and the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.