William Erik Byrne: Convicted

Nov 14

William Erik Byrne of Corpus Christi on Nov. 14 signed a Judicial Confession and Stipulation in the 117th state District Court in Nueces County, admitting he sold $389,000 in investment contracts and promissory notes without being registered to do so.

Byrne acted as an unregistered adviser when he told the investments. He also failed disclose relevant facts to investors, including a 2005 Agreed Cease and Desist Order entered by the Texas Securities Commissioner.

That order that required him to stop selling unregistered variable annuities and promissory notes.

Byrne also failed to disclose a 2008 sanction and fine by the Texas Department of Insurance for engaging in the unauthorized business of insurance.