Thursday, July 05, 2007

Why doesn't this surprise me?

Guy Houston, current CA Assemblyman and potential GOP candidate for CA-11, on trial in a civil suit for defrauding senior citizens.
They say Houston and his father, Fred, falsely represented the security of their investments, failed to disclose the risks, repaid themselves while abandoning their investors and failed to account for where the investors' money had gone in a confusing series of transfers among business entities.

There is a "pattern of irregular and incompetent financial transactions consisting of unexplained money transfers back and forth between the various schemes, and between the Houstons personally, without apparent disclosure to or authorization from the investors," according to court documents.


Post a Comment

<< Home