Terry Don Rader

Aug 3

On August 3, 2000, Terry Don Rader, 47, of Pittsburg, Texas, pled guilty to one count of an indictment in Cause no. 3:00-CR-191-T in the Dallas Division of the Northern District of Texas, charging a violation of Title 18, United States Code Section 1030(a)(4), computer fraud for exceeding his authorized access to a protected computer system belonging to Southwest Securities, Inc. while employed as the registered financial principal at Weber Investment Corporation of Dallas, Texas. In plea papers, Mr. Rader acknowledged entering false and fictitious prices for stocks held in his inventory accounts and entering false and fictitious securities trades in order to prevent Southwest Securities, Inc. and Weber Investment Corp. from making margin calls and discovering his growing trading losses from approximately October, 1995, through October 1997. Federal Judge Robert B. Maloney found Mr. Rader guilty after finding his plea of guilty was knowingly and voluntarily given. Sentencing in this matter is scheduled for October 19, 2000. This case was investigated and prosecuted as part of the Securities Fraud Task Force for the Northern District of Texas, which involves cooperative efforts of the United State Attorney's Office, and Dallas Federal Bureau of Investigation and the Texas State Securities Board.