EUGENE, Ore. (AP) — The chief financial officer of an Albany-based real estate development company that prosecutors say bilked investors out of more than $5 million has pleaded guilty to conspiring to commit securities fraud.
Federal prosecutors said 36-year-old Anthony Tuomi was the CFO of Willamette Development Services when authorities began to investigate fraud allegations in 2008.
Tuomi was accused of making false statements to investors, which caused them to lose over $5.26 million.
Willamette Development Services was founded in 2006 by Joe LaCoste, a former Oregon State University running back, with plans for building homes and commercial projects across the Willamette Valley.
