SAN ANTONIO – A former San Antonio attorney accused of scamming his clients out of money has pleaded guilty to wire fraud and money laundering charges, according to the United States Attorney’s Office in the Western District of Texas.
Federal officials said Christopher John Pettit, of San Antonio, made several misrepresentations to influence clients to make certain financial decisions and transactions through his law firm. Federal prosecutors called it a “Ponzi-type scheme.”
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Pettit is accused of sending emails, texts and letters to persuade clients to deposit money to his firm for trusts, wills and other estate planning services. He allegedly used the clients’ funds to open the accounts and named himself as the trustee to give him the ability to access and move the money into his own account, according to the indictment.
Federal officials said Pettit also falsely promised to invest clients’ money in high-percentage return bonds but instead also diverted those funds to his account while falsely representing himself as a qualified intermediary.
Pettit would use the funds from his clients to pay for other clients’ debts and to support an extravagant lifestyle, according to the indictment.
After his indictment, hundreds of his personal belongings were sold at an auction.
Pettit was indicted on five counts of wire fraud and three counts of engaging in monetary transactions in property derived from specified unlawful activity, and pleaded guilty to three counts of each charge, according to the U.S. Attorney’s Office.
He will be sentenced on Jan. 11, 2024. He faces a maximum of 20 years in prison for the wire fraud counts and up to 10 years for the money laundering counts.