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Local woman enters guilty plea for fraud

September 12, 2013

Lim faces 30 years in prison for fraud; 10 years for money laundering

An East Greenwich woman and chief executive officer of a computer technology firm has agreed on Monday to plead guilty in connection with a multi-million dollar fraud and money laundering scheme.

Sojin Lim, 60, CEO and Vice President of General Technologies Corporation – known mainly as CompUtopia – based in Warwick, will enter guilty pleas to one count bank fraud and one count money laundering for an alleged plot to defraud Rockland Trust Company of more than $5 million, according to a press release from the offices of Rhode Island U.S. Attorney Peter F. Neronha in conjunction with the Boston office for the Internal Revenue Service Criminal Investigation, the Boston field office of the Federal Bureau of Investigation and the Rhode Island State Police.
Lim, according to court documents, allegedly devised a plan to swindle Rockland Trust in order to satisfy a demand for repayment of a line of credit with Citizens Bank worth approximately $5 million. Lim allegedly falsified bank documents and overstated company revenues for the purposes of securing the funding from Rockland Trust to finance repayment of the line of credit.
For the rest of this story and more local news, pick up the Sept. 12 issue of the East Greenwich Pendulum.

Southern Rhode Island Newspapers
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