2008
Stephen B. Jones, of Corpus Christi, Texas, was indicted on September 4, 2008, by a Grand Jury in Nueces County, Texas, in Cause Nos. 08-CR-2903-A, 08-CR-2906-A, 08-CR-2907-A, and 08-CR2908-A, on charges of securities fraud, the sale of unregistered securities, the sale of securities without a license, theft by deception and securing execution of a document by deception. Doing business as King's Cross Resources, Jones allegedly raised over $250,000 from investors by selling them stock in his company. Jones told investors their money would be used to test a composite building material in Dade County, Florida that would eventually be used to build home in hurricane-prone areas. Jones allegedly used the funds for personal purposes other than what was represented to investors.