Alan Keith Nelsen and Mary Alice Monteza of San Antonio were each indicted on Oct. 14 on four felony counts for allegedly selling fraudulent high-yield investment products.
The pair allegedly sold investments through a business called Castro International. The Bexar County grand jury indicted Nelsen and Monteza for securities fraud; misapplication of fiduciary funds; theft by deception; and execution of a document by deception.
The indictments also state that Nelsen and Monteza did not tell investors they had entered into an agreed cease-and-desist Cease and Desist Order with the Texas State Securities Board in July 2007. The Order required Nelsen and Monteza to stop selling unregistered securities.