Legal Justice
Former Texas lawyer accused of bilking purchasers for at the very least $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,” based on 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,” based on federal prosecutors and courtroom information.
Former lawyer Christopher John Pettit, 56, of San Antonio was sentenced Wednesday for the “Ponzi-type scheme,” based on a Feb. 21 press release by the U.S. legal professional 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 could be used for providers corresponding to residing trusts, irrevocable trusts, property planning providers, investments and actual property transactions.
Pettit gave up his legislation license in 2022 and filed for chapter the identical 12 months, based on prior protection.
Pettit is represented by Matthew T. Allen. He didn’t instantly reply to an ABA Journal e mail looking for remark.
Law360 had protection of sentencing.
