William Charlton Mays IV, a former investment adviser representative in Corpus Christi, was sentenced to 20 years in state prison on Sept. 18 after being convicted on securities fraud and theft charges in the 214th State District Court of Nueces County. He was also ordered to pay $102,117 in restitution and assessed $20,000 in fines. Mays sold investments in a gold, silver, and commodities trading operation. He promised his clients that the investments, sold in the form of investment contracts and promissory notes, would earn them annualized returns of between 6% and 18%. Mays spent most of the $225,000 he raised on personal expenses.