May 6

A Denton County grand jury on May 6 indicted Patricia Ann Noble for securities fraud and selling securities without being a registered dealer or agent.

The indictment alleges that Noble, doing business as Noble Funds Asset Management, engaged in fraud by knowingly misrepresenting that investors' funds – intended to be used to buy stock and stock options – were instead used for unrelated purposes. Noble also failed to disclose that she used previous investors' money to pay her personal expenses and make payments to other investors.

The State Securities Board and the City of Denton Police Department investigated and brought the case against Noble.