Carl W. King , of Dallas, Texas, doing business as Carl W. King Investments, LLP, was sentenced to 87 months in federal prison by U.S. District Judge Richard A. Schell, in the U.S. District Court, Sherman, Texas on July 27, 2004. King pled guilty to Count One of an Information charging him with Mail Fraud. King had told investors that he ran a commodities futures trading program that had investment returns of 20%. In fact, King used investors = funds for personal and operating expenses and never purchased any commodities. King was also ordered by the Court to pay $4,499,146.51 in restitution to 61 victims.