On June 26, a former Texas lawmaker was sentenced to 12 years in prison after he was convicted of running a large Ponzi scheme. The 54-year-old man had been convicted on 11 felony charges associated with the fraudulent scheme.
On May 17, a federal criminal complaint alleging that a Texas man was involved in a bank robbery was unsealed. The robbery reportedly occurred on April 5 at a First National Bank located in the 4300 block of Central Texas Expressway in Killeen.
A Texas resident who has allegedly committed a crime could face a misdemeanor or felony charge. In most cases, the level of a charge is determined by how much time behind bars a person could face if convicted. However, a prosecutor has flexibility when it comes to charging an individual. If a person is charged with a misdemeanor, he or she can generally expect to spend up to a year in jail if convicted.
Most investors in Texas know that decisions made by government regulators sometimes influence profits at companies. This concept is the crux of a federal criminal case against a former employee of the Centers for Medicare and Medicaid Services. Officials say that he engaged in a form of insider trading when sharing government secrets, known as political intelligence, for the benefit of investors.