You are here

Justice News

Department of Justice
U.S. Attorney’s Office
Western District of Texas

Thursday, February 19, 2015

Waco Businessman Pleads Guilty To Federal Wire Fraud Charges

In Waco, Charles D. Jones, 61-year-old owner of Charles D. Jones Capital Management, Inc. (CDJCM), faces up to 20 years in federal prison after pleading guilty to wire fraud in connection with the theft of more than $8 million from his clients announced Acting United States Attorney Richard L. Durbin, Jr., U.S. Secret Service Special Agent in Charge Kathleen Hickman, Dallas Field Office, and Texas Department of Public Safety Director Steve McCraw.

According to court records, CDJCM provided fee-only personalized financial planning and investment management for individuals, trusts, foundations and retirement plans.  From 2005 to 2012, the defendant stole money and property from his victim clients and used the stolen proceeds for his own personal benefit.  To further perpetuate his Ponzi scheme, the defendant created false account statements and mailed or e-mailed them to his victim clients.  Jones also caused fraudulent tax returns to be filed in order to cover up his theft.  By the defendant’s own estimate, he stole approximately $8,378.524.94 from his clients.

Jones remains on bond pending sentencing which is scheduled for 1:00pm on April 15, 2015, before United States District Judge Walter S. Smith, Jr., in Waco.

This investigation was conducted by the United States Secret Service and the Texas Department of Public Safety Special Crimes Unit.  Assistant United States Attorney Greg Gloff is prosecuting this case on behalf of the Government.

Financial Fraud
Updated February 19, 2015