{"id":4750,"date":"2017-06-30T19:39:19","date_gmt":"2017-07-01T00:39:19","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4434"},"modified":"2017-06-30T19:39:19","modified_gmt":"2017-07-01T00:39:19","slug":"houston-adviser-pleads-guilty-1-9m-texas-financial-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/houston-adviser-pleads-guilty-1-9m-texas-financial-fraud\/","title":{"rendered":"Houston Adviser Pleads Guilty to $1.9M Texas Financial Fraud"},"content":{"rendered":"

\t\t\t\tLawrence Allan DeShetler is facing up to 20 years in prison for Texas investment adviser fraud<\/a>. The Houston-based financial adviser pleaded guilty to mail fraud last month. <\/p>\n

DeShetler fraudulently obtained $1.9M from clients he worked for through DeShetler & Company Inc. Three years ago, he started recommending that they take out money from their investments and give the cash to him so that he could help them garner higher returns. Instead of investing these funds, he put the money in a bank account that was only under his authority. <\/p>\n

DeShetler admitted to using one investor\u2019s funds to begin building a house in Nicaragua and persuading a senior investor, who was a widow in her eighties, to liquidate a trust account and move nearly $190K to him. Last year, DeShetler stayed at her house while she visited family. When she came back, he was no longer there and neither were her investment documents. <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lawrence Allan DeShetler is facing up to 20 years in prison for Texas investment adviser fraud. The Houston-based financial adviser pleaded guilty to mail fraud last month. DeShetler fraudulently obtained $1.9M from clients he worked for through DeShetler & Company Inc. Three years ago, he started recommending that they take out money from their investments […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781,3738,3750],"tags":[2822,2823],"class_list":["post-4750","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-investor-fraud","category-texas-securities-fraud","tag-deshetler-company-inc","tag-pti-securities-futures-lp"],"yoast_head":"\nHouston Adviser Pleads Guilty to $1.9M Texas Financial Fraud — Investor Lawyers Blog — June 30, 2017<\/title>\n<meta name=\"description\" content=\"Lawrence Allan DeShetler is facing up to 20 years in prison for Texas investment adviser fraud. 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