Apr 12
2004

On April 12, 2004, James Darrell Vaden pled guilty to securities fraud in the 403rd Judicial District Court of Travis County and Judge Bill Bender sentenced him to a five-year prison term. Vaden sold stock in Vaden HydraTech, a company with a supposed revolutionary new engine, while failing to disclose to investors his prior conviction for murder and that he was on parole at the time. Vaden also had been charged with misrepresenting to investors that Freeport McMoran had contracted to produce the engine, had tested the engine and wished to purchase it, and that the law firm of Fulbright & Jaworski was providing legal work in connection with a patent application.