Jun 6
2013
2013
Michael D. Alexander was convicted of securities fraud and theft in Rockwall County state District Court on June 6 and ordered to pay restitution of $175,000 to three investors in a non-existent timber-harvesting project Alexander claimed to operate along the Amazon River.
Alexander, who was indicted last year, was also sentenced to 10 years in prison on each charge, with the sentences probated. Alexander was the CEO of Ecowood Resources International Inc., and told investors they would profit when the company was sold. Alexander spent investors' money on two mortgages, construction of a swimming pool, and trips to resorts in Florida and Mexico.