Christian M. Allmendinger, the co-founder of Houston-based A&O Life Funds, was convicted March 24 by a U.S. District Court jury in Richmond, Va., on mail fraud, money laundering and securities fraud charges.
Allmendinger was among several Houston-area residents indicted in September 2010 for an investment scam based on the death benefits from life insurance policies.
Prosecutors alleged that Allmendinger and others involved in A&O stole approximately $100 million from at least 800 investors in 37 states and Canada.
The indictment was the result of an investigation by the FBI, Texas State Securities Board, U.S. Postal Inspection Service, the IRS, and Virginia state authorities.
Texas state regulators began investigating A&O because the company appeared to be selling unregistered securities.
Allmendinger is scheduled to be sentenced Aug. 12.