Texas Energy Fraudster Gets 10 Years, Must Repay $10M

Law360 (November 12, 2020, 4:59 PM EST) -- A San Antonio businessman whom jurors determined defrauded investors in his energy company has been sentenced to 10 years in prison and ordered to pay nearly $10 million in restitution.

Brian Alfaro, 51, CEO of Primera Energy LLC, was sentenced by U.S. District Judge Fred Biery on Tuesday to 121 months in prison and ordered to pay $9.9 million in restitution for the fraudulent scheme.

Judge Biery's sentencing came in one of two enforcement actions leveled against Alfaro this week. On Monday, the Texas State Securities Board issued an emergency cease-and-desist notice to Alfaro and his wife, Kristi Alfaro, to stop...

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