Cedar Park man pays restitution after alleged securities fraud

The Texas State Securities Board (TSSB) recently announced a plea agreement from Robert Patrick McGann of Cedar Park, Texas, who allegedly stole money from investors. McGann will pay full restitution of $141,234, receive seven years deferred adjudication and surrender his license to sell insurance in Texas. McGann, who has never been registered to sell securities in Texas, took money…

15-Year Sentence for Securities Fraud Against Elderly

The Texas State Securities Board announced last week that Charles Wayne Kilway of North Richland Hills was sentenced to 15 years in state prison for fraudulent securities sales and theft of property from the elderly. Kilway allegedly stole $10,000 or more. Kilway was also sentenced to 10 years in prison for violating the conditions of…

Oil & gas CEO, former bank robber gets eight years for securities fraud

The Texas State Securities Board announced on Dec. 18 that Bruce Kyle Griffith of Dallas will serve eight years and three months in federal prison for operating a $2 million oil and gas fraud. Griffith was also ordered to pay restitution of $2.5 million. Griffith pleaded guilty to two counts of securities fraud last December. Griffith…

Former UT star Erxleben continues to ‘Break Bad’

Anybody else remember University of Texas football star Russell Erxleben? I used to love watching him on TV when I was a kid. He was an amazing kicker. Lately he’s more infamous than famous, having been sentenced to prison in 2000 for a fraudulent currency scheme. Talk about Breaking Bad. According to a report from…

Man gets 40-year sentence for defrauding elderly women

The Texas State Securities Board just announced a 40-year prison sentence for a man who cheated over a half million dollars from elderly women. Robert Joseph Mangiafico Jr. convinced the women to buy non-existent annuities. On Sept. 18 he was sentenced to 40 years in state prison after pleading guilty to theft and money laundering. Mangiafico…

David Kevin Lewis convicted of securities fraud

The law just caught up with a man pushing shady oil and gas investments — again. The Texas State Securities Board announced the conviction of David Kevin Lewis, chairman and director of field operations for Always Consulting Inc. (ACI). Lewis allegedly helped pull off a multi-million-dollar scam based on the sale of oil and gas offerings. On…

Judge orders New Braunfels company to pay $3.9M restitution in securities fraud case

New Braunfels-based limited liability corporation Hill County Funding (HCF) has been ordered to pay $3.9 million in restitution to investors.  The company sold interests in death benefits from life insurance policies and “engaged in fraud” by selling unregistered securities, according to a June 27 ruling by Travis County District Court Judge Gisela D. Triana. Triana ruled…