Apr 7
2011

Patricia Ann Noble on April 7 pleaded guilty to securities fraud for lying about the purchase of stock and stock options for investors in her firm, Noble Funds Asset Management of Denton.

The 362nd state District Court in Denton County deferred adjudication of Noble's guilt and ordered her to repay $522,491 to her victims, serve 30 days in the county jail, and perform 500 hours of community service.

Noble engaged in fraud by misrepresenting that investors' funds, which she said would be used to buy stock and stock options, were instead used to pay unrelated expenses.

Noble, who was indicted on May 6, 2010, was prosecuted by the Denton County District Attorney's Office after an investigation by the DA's office and the State Securities Board.