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Thursday, July 17, 2014

Ex-Texas sheriff going to Big House; Boerne Stock Broker Busted by FBI

Ex-sheriff in Texas sentenced to 5 years in prison
McALLEN, Texas (AP) — A former South Texas sheriff who had pleaded guilty to money laundering was sentenced to five years in prison Thursday in what the judge called a sad day for the county.

U.S. District Judge Micaela Alvarez departed from sentencing guidelines that topped out at less than four years to impose a stiffer penalty on former Hidalgo County Sheriff Lupe Trevino.

Alvarez said many questions remained about how much money Trevino really took from a known drug trafficker. She said Trevino admitted to accepting $20,000 to $25,000 — double the amounts in question that were recorded in his re-election campaign account.

Boerne Broker indicted in $300M stock manipulation
SAN ANTONIO — The FBI on Thursday arrested a Boerne stockbroker after he was indicted with six others — including the ex-husband of a former star in “The Sopranos” television show — for allegedly participating in a $300 million stock manipulation scheme.

Matthew Bell, 47, was apprehended by FBI agents while still dressed in his workout clothes. He later appeared in federal court in San Antonio, was informed of the 10-count indictment returned in Brooklyn, New York, and was released on unsecured bond with instructions to report to New York for trial.
Brooklyn U.S. Attorney Loretta E. Lynch said in a statement: “They took companies with essentially no assets or activity and deceived the market into believing they were worth hundreds of millions of dollars through a dizzying round of insider and unauthorized trades. When the defendants stopped their criminal game of musical shares it was the unsuspecting investors who were left holding the bag.”
Deborah Whitley, 64, who worked for AT&T for nearly 40 years, put her faith in Bell. Whitley said she met Bell through the recommendations of other AT&T employees. She thought he was a “very good Christian and family man” who would manage her investments well, she said. Not knowing much about investing, she relied on Bell's assurances, she said, including that he would invest conservatively.
“He took my money ... and lost pretty much all of it,” Whitley said.


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