Enforcement Actions Criminal Civil

Kenneth Wayne Graves , a former investment adviser in Corpus Christi whose registration had been revoked by the Securities Commissioner, was sentenced to concurrent seven-year state prison terms Sept. 3 and ordered to pay $517,158 in restitution. Graves entered his pleas in Corpus Christi State...

David Elliott Rosen of Austin was indicted Aug. 18 in Travis County State District Court on charges of securities fraud, theft, money laundering, and misapplication of fiduciary property for stealing money from people who bought membership interests in music concerts that were to be produced by his...

Kenneth Wayne Graves , a former investment adviser representative in Corpus Christi whose license to sell securities was revoked last year by the Texas Securities Commissioner, was arrested June 15 after having been indicted in Nueces County on fraud and other charges. The indictment alleges that...

William Allen Risinger of Round Rock was indicted in U.S. District Court in Austin on three counts of wire fraud and other charges for an alleged oil and gas scheme that raised $4.5 million from investors. The indictment was handed down May 19 and unsealed June 3. Risinger built his alleged fraud on...

Robert James Tooney of Dickinson was placed on six years community supervision May 5 in Galveston County State District Court after pleading guilty to a 3rd degree felony charge of misapplication of fiduciary property. Galveston County Assistant District Attorney Robert Buss prosecuted Tooney, who...

James Elton "Jim"Warr of Austin was indicted April 27 in Travis County for allegedly stealing more than $1 million from investors who bought investments in a program based on real estate notes and loans. Warr was indicted on charges of theft, securities fraud, money laundering, and misapplication of...

Robert Patrick McGann of Cedar Park paid full restitution of $141,234 as part of a guilty plea to a charge of theft April 2 in Gregg County District Court. The terms of the plea include seven years deferred adjudication and the surrender of his license to sell insurance in Texas. McGann, who has...

Five individuals who controlled and played key roles in a life settlement company were indicted Feb. 26 in Collin County for securities fraud, theft, money laundering, and engaging in organizing criminal activity. According to the indictments, Richard H. Gray and Wendy L. Rogers committed fraud in...

Alberto Alba Villarreal was sentenced to five years in prison Jan. 16 after being convicted of theft of property for stealing money that was supposed to be used to help fund a new insurance company. The sentence, handed down in Cameron County State District Court, ordered Villarreal to pay full...

Robert J. Andres , the investment manager of Houston-based Winsome Investment Trust, was sentenced to 56 months in federal prison on Dec. 17 after pleading guilty to one court of wire fraud in U.S. District Court in Salt Lake City. A final order of restitution is pending. According to the indictment...