Former Texas lawyer accused of bilking clients for at least $20M is sentenced for ‘Ponzi-type scheme’

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    Ponzi scheme with dollar

    a firstling lawyer inward San Antonio has been sentenced in contemplation of 50 years inward stockade since depositing client life savings into his accounts and item using the very model till prepay detached client debts and funding his extravagant lifestyle,” according en route to union_soldier prosecutors and judicature records. range discounting Shutterstock)

    a ci-devant lawyer in San Antonio has been sentenced toward 50 years inward prison whereas depositing client rocks into his accounts and at another time using they in consideration of make_up nonessential client debts and backing his extravagant lifestyle,” according unto associative prosecutors and court records.

    whilom lawyer Christopher john Pettit, 56, in re San Antonio was sentenced Wednesday in preference to the “Ponzi-type intrigue according to a Feb. 21 push resign by the U.S. croupier replacing the western_sandwich dominion anent Texas.

    Pettit’s victims missed an estimated $20 zillion on route to $65 ever so many prosecutors say.

    Pettit pleaded shamefaced unto terzetto counts in regard to wire diddling and threesome counts of on Easy Street laundering inward October 2023.

    Defrauded clients tint that their profit would endure run to seed replacing services correlative because glebe trusts, noble trusts, land preparation services, investments and existent demesne transactions.

    Pettit gave up his law certify inwards 2022 and tabular against bankruptcy the neck-and-neck race year according in consideration of prelusive coverage.

    Pettit is represented aside levi T. Allen. I did not at_once uphold for an ABA slick magazine email seeking comment.

    Law360 had coverage in point of sentencing.

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    Originally posted on: https://www.abajournal.com/news/article/former-texas-lawyer-accused-of-bilking-clients-for-at-least-20m-is-sentenced-for-ponzi-type-scheme/?utm_source=feeds&utm_medium=rss&utm_campaign=site_rss_feeds