Southeast Texas lawyer gets 2 years for bank fraud

3/20/2013

BEAUMONT, Texas (AP) - A Southeast Texas lawyer has been sentenced to two years in prison for misusing $365,000 he was supposed to manage.

A federal judge in Beaumont on Tuesday sentenced 40-year-old Matthew Taylor Morones of Silsbee.

Morones last September pleaded guilty to bank fraud in a case involving his work since 2005 as receiver for the Indian Paintbrush Development.

Investigators say the organization had about $365,000 in two banks and Morones used the money to buy six certificates of deposit. Investigators say Morones used one of those CDs as collateral to help obtain a home loan.

Morones has repaid more than $200,000 but must make full restitution.


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