Bristol, TN Realtor to serve 10 years in federal prison for ponzi scheme

A Bristol, Tennessee real estate agent will spend the next 10 years in federal prison for a ponzi scheme.

In January, Tammy Lynn Hawk, 47, entered into a plea agreement and pled guilty to charges that include wire fraud, aggravated identity theft, and money laundering. Prosecutors say Hawk, who was a well established Realtor in the Bristol area, used a scheme to notify clients of large profits to be made on quick-flip properties, took money from the clients, and repaid earlier clients money she took from them.

In total, at least 24 clients were defrauded, while 12 were never repaid and had lost over $500,000. Additionally, Hawk took money paid to her by clients for her own personal use.

After Hawk is released from prison, she will be on three years supervised release and will be required to pay more than $658,000 in restitution to unpaid victims.