A former Seattle-area real estate broker who prosecutors said used investor money to fund a lavish lifestyle — including a customized pink Tesla and an 8.5-carat diamond ring — is heading to federal prison.
Tamara King, 56, formerly of Bellevue and Kirkland and now living in Ohio, was sentenced in Seattle federal court Friday to 4.5 years behind bars after being convicted on 14 federal felony counts tied to fraud and tax crimes.
King, also known as Tamara Waln, was convicted in December 2025 following an eight-day jury trial.
Federal prosecutors said King and her now ex-husband, Paul Waln, solicited more than $2.25 million from 22 investors through a real estate investment fund called Halcyon.
Investors were told their money would be used to purchase and renovate a West Seattle apartment building and fund additional real estate projects, according to the US Attorney’s Office. They were promised returns estimated at roughly 20% annually over a 10-year period.
Instead, authorities said King and Waln secretly diverted hundreds of thousands of dollars from the investment fund between 2014 and 2018 to pay for personal expenses and luxury purchases.
Among the purchases cited by prosecutors was an early-edition Tesla Model X with customized pink trim costing nearly $122,000, along with an 8.5-carat diamond ring valued at more than $49,000.
King used investor money to pay off nearly $190,000 in personal tax debt and employed a personal assistant for several years, prosecutors said.
When the investment fund came due in 2019, King informed investors the money was gone and the investment had failed. Remaining investors lost their entire investments.
At sentencing, US District Judge Ricardo Martinez sharply criticized King’s conduct.
“King testified falsely, she deliberately lied on the witness stand,” Martinez said. “She was the primary instigator of this fraud… for the most base motivation of all: pure greed.”
Victims told the court the fraud forced some to delay retirement, worry about caring for disabled spouses, and live with shame over being deceived.
One victim wrote that King “had cosmetic procedures,” bought luxury items, and “lived in a home twice as large as we’ve ever been able to afford,” according to prosecutors.
“We don’t believe for one minute that she is remorseful or that she will not do it again,” the witness told the court. “Her arrogance and callous, self-centered nature enable her to believe she can get away with anything.”
Federal authorities also said King failed to report more than $1.6 million in income across three tax years, causing a tax loss to the US government of more than $551,000.
King was convicted of conspiracy to commit wire fraud, eight counts of wire fraud, two counts of money laundering, and three counts of filing false tax returns.
Waln previously pleaded guilty to wire fraud conspiracy and was sentenced in 2025 to 33 months in prison.
King is scheduled to remain on supervised release for three years following her prison sentence. A hearing on restitution and asset forfeiture is scheduled for July.
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