2003
On April 30, 2003, Mauricio A. Gutierrez, of Irving, Texas, was sentenced to 88 months imprisonment and ordered to pay more than $52,000,000 in restitution to victims in connection with his convictions for Investment Advisor Fraud and Wire Fraud. Gutierrez was the President and Managing Director of Sharp Capital, Inc. an Irving investment advisory firm. Through the use of an offshore "shell "corporation known as Emerging Markets Capital Advisors, Ltd. and false and incomplete account statements, the true uses of investor funds were concealed. Many law enforcement agencies collaborated in the investigation and prosecution of this matter including the United States Postal Inspection Service, the NASD, the Federal Bureau of Investigation, the United States Securities & Exchange Commission and the Office of United States Attorney for the Northern District Of Texas.