Florida property manager faces up to 10 years for stealing government funds

FLORIDA – A property manager in Daytona Beach has admitted to stealing government funds for his unjust enrichment.

Oliver Barrington King, 44, of Deland, pleaded guilty last week to the theft of government funds and now faces a maximum penalty of 10 years in federal prison. In addition, King has agreed to forfeit $16,618.91, the amount he obtained due to the offense, said the U.S. Attorney’s Office for the Middle District of Florida (USAO).

A sentencing date has not yet been scheduled.

According to the plea agreement, King was the property manager for an apartment complex in Daytona Beach that received Section 8 project-based rental assistance funding from the Department of Housing and Urban Development (HUD). As property manager, King had access to the HUD funding.

Under the property management agreement, the defendant’s monthly management fee was $1,300 per month.

“During this time, the defendant regularly and consistently wrote checks payable to King Management Service for duplicative payroll and management fees which were above and beyond the amount agreed to,” prosecutors said.

“In addition, the defendant used the M.C.H. accounts to make purchases and ATM withdrawals which were not for the benefit of M.C.H. and not authorized by the church that owned M.C.H. The total loss amount to M.C.H. as a result of the defendant’s theft during this time frame was $16,618.91.”

The case was investigated by the Department of Housing and Urban Development – Office of Inspector General. It is being prosecuted by Assistant United States Attorney Shannon Laurie.