Federal prosecutors said the scam cost his clients anywhere between $25 million and $65 million. Considering the three wire fraud charges and three additional money laundering charges included in the complaint, Pettit is facing up to 30 years of prison time.
Estimated reading time: 0 minutes, 23 seconds
San Antonio Lawyer May Face Long Prison Term After Plea in 'Ponzi-type' Scheme
Christopher Pettit, a former lawyer based out of San Antonio, pleaded guilty to fraud charges after being accused of running a “Ponzi-type” scheme costing his clients millions of dollars. So reports Reuters.
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