Jul 12

On July 12, 2001 Mr. Stearns was sentenced by United States District Court Judge James R. Nowlin to a total of 30 years in prison in connection with case number A-99-CR-230(1), Western District Of Texas--Austin Division, in connection with an investigation conducted by federal, state and local law enforcement. His convictions included securities fraud, money laundering, wire and mail fraud.
Restitution was ordered in the amount of approximately $36,000,000.