Bond Seller Tied To $52M Ponzi Scheme Enters Plea Deal

Law360, Houston (February 20, 2013, 9:36 PM EST) -- A disgraced executive who helmed a defunct Texas wealth management company connected to a $52 million Ponzi scheme on Tuesday confessed to federal prosecutors that while his partner was selling phony bond investments, he stole $1.4 million from clients.

Brian Bjork, who served as CEO of Select Asset Management, pled guilty to one count of wire fraud and admitted in his plea agreement with authorities that he convinced family members and a foundation meant to support University of Houston Athletics to invest in J. David Salinas’...
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