Man­age­ment com­pany owner sen­tenced to prison

Baltimore Sun - - AROUND THE REGION -

Wil­liam Kyn­dall Fran­cis built his prop­erty man­age­ment business from his base­ment, grow­ing it to 100 em­ploy­ees be­fore he was caught steal­ing from clients. Fran­cis, 39, was sen­tenced in U.S. District Court in Bal­ti­more on Tues­day to 42 months in fed­eral prison af­ter plead­ing guilty to wire fraud. Au­thor­i­ties say he took money from at least 51 home­owner and con­do­minium as­so­ci­a­tions that had hired his firm to pro­vide fi­nan­cial and prop­erty ser­vices. Fran­cis, who owned Columbia-based Legacy In­vest­ment and Man­age­ment Inc. and Legacy In­vest­ment and Man­age­ment LLC, spoke at length in the court­room. He ex­pressed re­morse to the vic­tims, who au­thor­i­ties said lost $2.5 mil­lion in funds in­tended for sav­ings or money-market ac­counts, and to cover their long-term and un­ex­pected cap­i­tal ex­penses. He asked District Judge Ellen L. Hollander for a lesser sen­tence for the sake of his two chil­dren. Hollander said Fran­cis’ state­ments were mov­ing and thought­ful. Her sen­tence was less than the 51 to 63 months rec­om­mended by the U.S. At­tor­ney’s Of­fice. But she said the large amount of money in­volved war­ranted more than the 24 months that Fran­cis’ at­tor­ney sought.

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