Wednesday, December 14, 2011

Washing money

Is all their money gone?

Local Man held in money laundering
Co-Defendant in Harris indictment still is at-large.
By Eva Ruth Moravec - Express-News

Bexar County Sheriff's Office deputies have arrested a San Antonio man accused in Harris County of selling fake annuity policies to 69 clients, then stealing more than $200,000 he netted in those sales, according to court documents.

Luther Pierce Hendon, 64, was being held Tuesday in Bexar County Jail on charges of misapplication of fiduciary property, money laundering and theft by deception. A judge set bail at $1.5 million.

Indictments issued Thursday by a Harris County grand jury accuse Hendon of funneling cash into personal bank accounts from clients who bought annuity policies.