[ad_1]
House
Each day Information
Former Texas lawyer accused of bilking purchasers…
Prison Justice
Former Texas lawyer accused of bilking purchasers for not less than $20M is sentenced for ‘Ponzi-type scheme’
February 23, 2024, 9:42 am CST
A former lawyer in San Antonio has been sentenced to 50 years in jail for depositing shopper cash into his accounts after which utilizing it to pay different shopper money owed and assist his “extravagant life-style,” in accordance with federal prosecutors and court docket information. (Picture from Shutterstock)
A former lawyer in San Antonio has been sentenced to 50 years in jail for depositing shopper cash into his accounts after which utilizing it to pay different shopper money owed and assist his “extravagant life-style,” in accordance with federal prosecutors and court docket information.
Former lawyer Christopher John Pettit, 56, of San Antonio was sentenced Wednesday for the “Ponzi-type scheme,” in accordance with a Feb. 21 press launch by the U.S. legal professional for the Western District of Texas.
Pettit’s victims misplaced an estimated $20 million to $65 million, prosecutors say.
Pettit pleaded responsible to a few counts of wire fraud and three counts of cash laundering in October 2023.
Defrauded purchasers thought that their cash could be used for companies similar to dwelling trusts, irrevocable trusts, property planning companies, investments and actual property transactions.
Pettit gave up his legislation license in 2022 and filed for chapter the identical 12 months, in accordance with prior protection.
Pettit is represented by Matthew T. Allen. He didn’t instantly reply to an ABA Journal electronic mail looking for remark.
Law360 had protection of sentencing.
[ad_2]
Source link
