Add an SEC change to the growing list of offenses against former NFL player Sean Jones.
Kathleen Pender writes in today's SF Chronicle (she quotes me at the end):
Jones and four others were charged with mortgage fraud in federal court in Texas. According to the indictment, the defendants - including a property developer, an appraiser and two bank officers - conspired to obtain home loans based on inflated values on behalf of unqualified buyers, then diverted some of the loan proceeds to themselves.
Between 1999 and 2001, the defendants allegedly acquired more than $42 million in loans. The indictment charges each defendant with 12 counts of bank fraud. Each count carries a possible prison sentence of up to 30 years imprisonment and a possible fine of up to $1 million. Jury selection is set for May 12.
According to Pender's article, the SEC charges that Jones "refused to produce or allow the inspection of his advisory business records."
The SEC claims Jones "ultimately claimed that all his records had either been destroyed in a fire or inadvertently sold by a storage company." Given Jones' run of "bad luck" with the law, let's hope it's the latter; the former might bring an arson charge.