Sep 10
2001

On September 10, 2001, Michael James Konkel , a Wisconsin resident, received a suspended 10 year prison sentence and was placed on 10 years community supervision, ordered to pay a $2000 fine and $360,000 restitution in connection with his conviction for securities fraud and misapplication of fiduciary property in the 220th Judicial District Court of Comanche County. The cause number was 01-01- 02278-CCR. Eleven investors from the Comanche County area were paid restitution of $78,000 on the date of sentencing, with the remainder to be paid by June 15, 2002. The Defendant is also required to complete 200 hours Community Service. The Texas Securities Board wishes to acknowledge the assistance of the Wisconsin Department of Financial Institutions' Division of Securities in conducting the investigation.