Robbie Dale Walker of Dripping Springs was arrested June 29 on a charge of theft following an investigation by the Hays County Sheriff's Office, the Texas State Securities Board and the Secret Service.
Walker allegedly promised a 93-year-old Hays County woman that she would earn 15% annual returns if she invested in an oil-and-gas project in North Dakota. The alleged victim is a retired state employee.
Walker is the son of the alleged victim's best friend, according to an affidavit for search warrant from the Hays County Sheriff's Office.
In 2009, Walker allegedly convinced the victim to invest $100,000 on two separate occasions.