Felony Justice
Former Texas lawyer accused of bilking purchasers for not less than $20M is sentenced for ‘Ponzi-type scheme’
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 help his “extravagant life-style,” in line with federal prosecutors and courtroom 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 help his “extravagant life-style,” in line with federal prosecutors and courtroom information.
Former lawyer Christopher John Pettit, 56, of San Antonio was sentenced Wednesday for the “Ponzi-type scheme,” in line with a Feb. 21 press release by the U.S. lawyer for the Western District of Texas.
Pettit’s victims misplaced an estimated $20 million to $65 million, prosecutors say.
Pettit pleaded guilty to a few counts of wire fraud and three counts of cash laundering in October 2023.
Defrauded purchasers thought that their cash can 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 line with prior protection.
Pettit is represented by Matthew T. Allen. He didn’t instantly reply to an ABA Journal e-mail in search of remark.
Law360 had protection of sentencing.
