Dec 20
2010

Thomas Lester Irby: Sentenced, 24 Years

Thomas Lester Irby of Frisco on Dec. 20 was sentenced to 24 years in state prison on a money laundering charge in connection with his sale of purported high-yield investments from European banks.

Irby was also sentenced to 10 years deferred adjudication on charges of theft and...

Dec 15
2010

Adley Husni Abdulwahab: Indicted

Adley Husni Abdulwahab was indicted Dec. 15 on six federal charges of securities fraud, aiding and abetting, and conspiracy for allegedly selling millions of dollars of "collateralized secure debt obligations" through the W Financial Group (WFG).

Abdulwahab and other principals of WFG...

Nov 19
2010

Richard Donald Theye: Sentenced, 12 Years

Richard Donald Theye was sentenced to 12 years in prison on Nov. 19 after pleading guilty in July to one count of securities fraud and eight counts of wire fraud.

Theye ran a securities and commodities trading operation from Austin for nine years, promising investors returns of up to 2...

Oct 19
2010

Michael K. Wallens Sr.: Guilty Plea

Michael K. Wallens Sr. pleaded guilty to one count of securities fraud on Oct. 19 in U.S. District Court in Dallas.

Wallens and his associates collected more than $17 million from about 180 investors who bought Collateral Secured Debt Obligations issued by W Financial Group.

...

Oct 15
2010

Charles Wayne Kilway: Indicted

Charles Wayne Kilway was indicted Oct. 15 in Dallas County for securities fraud and theft in connection with the sale of promissory notes issued by a company called JBS Holdings LLC.

Kilway, of North Richland Hills, raised more than $200,000 from seven investors.

According to...

Oct 4
2010

Richard W. McFarland Jr.: Sentenced, 8 Years

Richard W. McFarland Jr. of Uncertain, a small town near Caddo Lake in East Texas, was sentenced to 97 months in federal prison on Oct. 4 for selling interests in non-existent oil and gas wells to investors.

U.S. District Judge T. John Ward also ordered McFarland to $8,861,160 in...

Sep 16
2010

Tomme Bromseth: Guilty Plea

Tomme Bromseth pleaded guilty to mail fraud and structuring financial transactions to evade reporting requirements in connection with his sale of life-settlement investments for Houston-based A&O Life Funds and other A&O entities.

According to court documents , Bromseth sold...

Aug 26
2010

Terrence Riely: Indicted

The Bexar County District Attorney re-filed an indictment against Terrence Riely of San Antonio on August 26, alleging misapplication of fiduciary funds in connection with the fraudulent sale of promissory notes to Texas residents.

Riely was a director of Paramco Financial Group Inc....

Jul 30
2010

Richard Donald Theye: Guilty Plea

Richard Donald Theye , who for nine years ran a securities and commodities trading operation from Austin, pleaded guilty in U.S. District Court on July 30 to one count of securities and commodities fraud and eight counts of wire fraud.

Theye was indicted June 1 after a joint...

Jul 12
2010

Stephen Bayliss Jones: Sentenced, 12 Years

Stephen Bayliss Jones of Corpus Christi was sentenced to 12 years in prison on July 12 for stealing money from investors in a building materials scam. Jones had previously pleaded guilty to a charge of felony theft.

Judge Nanette Hasette of the 28th District Court in Nueces County...

May 26
2010

Dennis Woods Bowden: Indicted

Dennis Woods Bowden , one of the top executives at the now-defunct AmeriFirst Funding Corp. in Dallas, was indicted May 26 in U.S. District Court in Dallas on nine counts of securities fraud and six counts of mail fraud.

Bowden, on his own and through sales agents, allegedly sold...

May 19
2010

Reginald Lee Clark: Indicted

A Limestone County grand jury indicted Reginald Lee Clark on May 19 on charges of theft and misapplication of fiduciary property..

Clark, who did business as Clark Investment Advisors, most recently in McLennan County, allegedly stole more than $400,000 from his clients.

Clark...

May 14
2010

Leland Anthony Patin: Sentenced, 7 Years

Leland Anthony Patin of Dallas was sentenced to seven years in prison and ordered to pay $172,500 in restitution for securities fraud.

Patin was a salesman for Edward Digges, the architect of a multistate fraudulent scheme involving the sale and lease of credit card and debit card...

May 10
2010

Melissa Marie Ramon: Sentenced, 10 Years

Melissa Marie Ramon of Bellaire on May 10 was sentenced to serve 10 years in federal prison for an investment scam that was investigated by the State Securities Board and prosecuted by the U.S. District Attorney's Office in Houston. U.S. District Judge Vanessa Gilmore also ordered Ramon to pay...

May 6
2010

Patricia Ann Noble: Indicted

A Denton County grand jury on May 6 indicted Patricia Ann Noble for securities fraud and selling securities without being a registered dealer or agent.

The indictment alleges that Noble, doing business as Noble Funds Asset Management, engaged in fraud by knowingly misrepresenting that...

Apr 19
2010

Albert Anzaldua: Indicted

Albert "Andy" Anzaldua of McAllen was indicted on 14 counts of securities fraud, wire fraud and conspiracy to commit securities fraud for operating an allegedly fraudulent high-yield investment program.

The indictment was unsealed April 19 in the U.S. District Court for the Southern...

Apr 14
2010

Jeffrey C. Bruteyn: Convicted

A U.S. District Court jury in Dallas convicted Jeffrey C. Bruteyn of securities fraud charges resulting from his scheme to defraud investors in Texas and Florida. Bruteyn was convicted on April 14, 2010, on all nine counts of an indictment returned by a grand jury in May 2009.

Bruteyn...

Mar 10
2010

Jeffrey Scott Rand: Indicted

A federal grand jury indicted Jeffrey Scott Rand of Houston on 25 counts of securities fraud and mail fraud in connection with the offer and sale of investments in oil and gas well projects in Texas.

The grand jury in the U.S. District Court for the Western District of Arkansas, Hot...

Mar 5
2010

George Elliott: Sentenced, 12 Years

George Elliott, a Belton-based salesman for a fraudulent scheme involving the sale and lease of credit card terminals, was sentenced to 12 years in state prison on one count of aggregated money laundering.

Judge Joe Carroll of the 27th State District Court in Bell County sentenced...

Mar 3
2010

David Boyer Prince: Indicted

David Boyer Prince was indicted on 12 counts of wire fraud on March 3, 2010, in United States District Court, Northern District of California, San Jose Division.

The indictment stems from an investigation by the Texas State Securities Board, which worked with the Federal Bureau of...

Feb 23
2010

Martin Tyson Sr.: Deferred Adjudication

Martin Tyson Sr. of Horseshoe Bay on Feb. 23, 2010 was ordered to pay $200,000 in restitution to investors in an online gambling Web site that never launched.

Tyson pleaded guilty to a felony charge of sale of an unregistered security.

The Order of Deferred Adjudication and...

Feb 18
2010

Edward S. Digges Jr.: Sentenced, 99 Years

A Collin County state District Court jury on February 18, 2010 sentenced Edward S. Digges Jr. to 99 years in state prison for organizing and leading a multistate, fraudulent scheme involving the sale and lease of credit card and debit card terminals.

The jury convicted Digges of...

Jan 20
2010

Penelope Lefaucheur and Matthew E. Rager: Indicted

Penelope Lefaucheur and Matthew Earl Rager were indicted on Jan. 20, 2010, for the fraudulent sale of interests in a commercial property in San Antonio.

A Bexar County grand jury indicted both Lefaucheur – also known as Jacqueline Penelope Judge – and Rager on numerous counts, including...