Texas felon charged with frauding loans to pay for personal expenses

A Texas ex-con with prior convictions of theft is facing charges of security fraud, theft, and money laundering.

According to the Texas State Securities Board, Larry David Eckenrode of McKinney allegedly used money from a short-term loan program to pay for his personal expenses.

The loans were made to international fuel businesses.

Eckenrode was previously convicted of felony theft in 1982 in Harris County. He was sentenced to 10 years in state prison and was ordered to pay $238,174 in restitution. He was also convicted in 2003

In January of this year, Eckenrode pleaded guilty to misapplication of fiduciary property or property of a financial institution. He was sentenced to 10 years to prison in Dallas County. He also was convicted in May of commercial bribery and sentenced to two years in prison, but was probated to five years.

Attorneys in the Enforcement Division of the State Securites Board will serve as special prosecutors in the case.