On October 31, 2000, in the 175th Judicial District Court of Bexar County, James F. Ricker was convicted of Misapplication of Fiduciary Property and unlawfully dealing in securities in connection with the issuance of promissory notes to the public.
Ricker agreed to repay $6 million and will be sentenced in January 2001. The cause number was 2000-CR-3948.
Ricker was the subject of a prior Cease & Desist Order issued by the Texas Securities Commissioner in May, 1999, CDO-1363.
The criminal matter was investigated by the Texas Securities Board, the San Antonio Police Department and the Bexar County District Attorney's Office.