Jul 16

Harold Wayne Griffin of Clifton, Texas, was convicted on July 16, 2004 in the United States District Court for the Northern District of Texas, Dallas Division of securities fraud. He was registered to sell insurance and securities for CUNA and while so employed, sold non-existent CUNA variable annuities to investors, falsely representing that the victims' funds were purchasing investment products, falsely representing investment account values on statements he created and mailed to investors, and failing to disclose that the investment product did not exist, that the statements were false, and that the investors' monies were converted to personal use. He was sentenced to 64 months imprisonment and ordered to pay restitution of $1,611,256.29.