Former Lynchburg business owner sentenced for embezzlement
(WDBJ) - A former Lynchburg business owner will spend more than three years behind bars after embezzling hundreds of thousands of dollars.
Timothy Penick pleaded guilty to wire fraud last year after he embezzled more than $550,000 dollars through his business, Lighthouse Properties of Virginia.
The real estate management company stole money from clients by taking cash directly out of their bank accounts.
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