A Wetzel County couple were found guilty of stealing nearly $400,000 from a 90-year-old victim in order to buy a vacation home in the Outer Banks. Timothy and Lea Ann Summers of Proctor were convicted after a three day trial in federal court last week.
The Summers’ were found guilty of one count of conspiracy to commit mail fraud, four counts of mail fraud, one count of securities fraud, and one count of interstate transportation of stolen property.
Evidence showed the couple liquidated a significant port of the victim’s stock in PPG Industries. Lea Ann Summers called the stock holding company impersonating the victim and sold more than 2,000 shares of PPG stock.
Summers then had the proceeds from the sale, more than $397,000, sent to herself instead of the 90 year old victim. Her husband then deposited the money into a bank account he and his wife shared and bought a beach house in North Carolina for approximately $243,000.
The Summers’ each face up to 20 years for each mail fraud count, up to 20 years for the securities fraud, and 10 years for interstate transportation of stolen property. They also face a fine of up to $250,000 for each of the seven counts.