Clarke County Superior Court Judge David Sweat on Thursday sentenced 40-year-old Andrew Lee Loftis to four years in prison and 15 years of probation.
Prior to sentencing, Loftis pleaded guilty to five counts of theft by taking and four counts of computer theft, according to court documents.
A grand jury indicted Loftis in July 2010 after Athens-Clarke police arrested him for embezzling money from Keller Realty Greater Athens, where he was office manager.
Authorities believe Loftis, who had enjoyed a good income as a Realtor, resorted to embezzlement after the real estate market tanked.
He stole from Keller Williams “because he didn’t want to lose the lifestyle he had,” said Athens-Clarke police Detective Beverly Russell, who investigated the case.
Keller Williams had accounts at Athens First Bank & Trust, and Loftis set up accounts at the same bank into which he transferred company funds, according to police.
Loftis used a computer to make the illegal transfers, from the real estate firm’s operating, capital and other accounts, according to the indictment.
He also stole from the firm by taking a commission for the sale of a home that was 10 percent greater than what he had agreed to, and he stole rent checks that were drawn from a Keller Realty account, according to the indictment.
Loftis became a partner in the real estate firm in 2003, and he left to start up his own business — Loftis Holdings — in August 2009, two months after another partner came on board and soon realized something was wrong with the accounting books, police said.
An audit found that money had been embezzled, and Keller Williams named Loftis as the prime suspect, according to police.