OKLAHOMA CITY – A former Edmond property manager was sentenced to prison for defrauding clients and failing to pay taxes.
On November 22, 2016, Angela Renee Reneau pleaded guilty to committing wire fraud and for failing to file an income tax return.
She reportedly admitted that between 2010 and 2014, she provided real estate management services to owners of commercial office buildings in the Edmond, Oklahoma, area through her business, Reneau Properties, LLC.
Officials say that during this time she made unauthorized transfers of her clients’ rental income into her Reneau Properties bank account and used those funds for her personal expenses.
Specifically, she admitted that she caused Citizens Bank of Edmond, Oklahoma, to use interstate wire communications with the bank’s processor, which is located out-of-state, to transfer $11,000 from the bank account of her client into her Reneau Properties bank account.
Reneau admitted that her client did not authorize this transfer and that she used the funds for her personal expenses.
In addition, Reneau admitted that she knowingly and willfully failed to file a federal income tax return with the Internal Revenue Service for the 2014 tax year.
Angela Renee Reneau was sentenced to serve 18 months in federal prison.
She was ordered to pay restitution totaling $386,236.27 to five of her former clients.
Reneau was also ordered to pay $137,352 in restitution to the IRS.
She will serve three years of supervised release at the end of her prison term.