Former Bellevue resident sentenced to prison for fraud

Published 1:30 pm Monday, May 18, 2026

Five months after her conviction, former Bellevue resident Tamara King was sentenced to 55 months in prison on May 15 for conspiracy to commit wire fraud, eight counts of wire fraud, two counts of money laundering and three counts of tax fraud while she worked as a Seattle area real estate professional.

The 56-year-old from Toledo, Ohio, who is also known as Tamara Waln, operated a real estate investment fund called Halcyon with her now ex-husband, Paul Waln, 60, and was convicted of 14 federal felonies related to $2.4 million theft of investor money, according to a United States Department of Justice press release. The couple ran the fund from August 2009 to December 2013 and 22 victims invested $2.25 million with the duo.

“This defendant stole from those who invested not just their money, but their dreams of a secure retirement,” said First Assistant U.S. Attorney Neil Floyd. “To this day, she tries to blame others for her conduct that resulted in convictions for 14 federal felonies. This significant prison time should send a message to other fraudsters that we will investigate and hold defendants accountable.”

According to court records, Paul Waln pleaded guilty to wire fraud conspiracy in June 2025 and was sentenced to 33 months in prison four months later.

IRS criminal investigation special agent in charge Carrie Nordyke, who works in the Seattle field office, said that King spent investor funds to support her lavish lifestyle.

Fraud victims said they were forced to delay retirements, became stressed over the cost of care for disabled spouses, and felt ashamed that they had been deceived.

According to the press release, one victim wrote this account about King (who failed to report more than $1.6 million in income over three tax years): “Tamara King stole that money and had cosmetic procedures. She stole that money and bought a car much nicer than we ever had. She stole that money and lived in a home twice as large as we’ve ever been able to afford. She stole that money and paid her credit card bills from a very extravagant lifestyle. We don’t believe for one minute that she is remorseful or that she will not do it again. Her arrogance and callous, self-centered nature enable her to believe she can get away with anything.”