A Mechanicville woman who pleaded guilty to grand larceny in February, was sentenced to one to three years in state prison and ordered to pay $523,036 in restitution on Tuesday, May 2, according to Saratoga County District Attorney James A. Murphy's office.
Tami Demers pleaded guilty to grand larceny in the second degree in February after an investigation that revealed she was running a closing company called Johns and Lee Real Estate Services, according to information from Murphy's office.
An investigation determined Demers' company had been funded for three loans but she used the money to pay for loan payoffs for previous closings she had recently completed, according to information from Murphy's office. Demers voluntarily came forward and gave a complete statement of her actions, also turning over her records and computer to police, according to information from Murphy's office.
To pay the restitution, Demers has her home for sale, said Murphy.