Corpus Christi adviser William Erik Byrne on March 21 was ordered to pay $719,000 in restitution and sentenced to 10 years community supervision and 30 days in jail. Byrne was sentenced in Nueces County state District Court.
At the time of his sentencing, Byrne had already paid $100,000 in restitution.
He sold nearly $1 million in fraudulent investment contracts and promissory notes. Byrne failed to disclose to investors his record of regulatory sanctions, including cease and desist orders from the State Securities board and Texas Department of Insurance.