| Inmate name: | Myron Lester |
| Charge description: | Myron Lester was sentenced to a total of 30 years in prison for 3 separate criminal charges on September 30, 2013 by Judge Clifford J. Vacek. Lester plead guilty to multiple counts of Theft, Money Laundering and Misapplication of Fiduciary Property before the court assessed 10 years on each charge. The Fort Bend County District Attorneys Office proved that the 47 year-old Missouri City man had bilked over $200,000 from a retired veteran in 2008. According to prosecutor Rodolfo Ramirez, Myron Lester was the co-owner of Logos Capital Group. He convinced his victim to invest approximately $222,000 of his retirement money into Logos in 2008. The victim thought that Lester would use the money to invest in companies, thus making a return on his principal. The victim grew concerned when he didnt receive monthly statements and the defendant began stalling. The victim investigated Lester further to discover that the defendant had his securities license revoked in another state for forging a clients name. Fort Bend County Sheriffs Detective Jeff Kapche investigated the defendants bank records and determined that the victims money was used to pay back Lesters old investors, his personal expenses, and to make large cash withdrawals. Some of the expenses included purchases at restaurants, hotels, and a check for the defendants family lawyer. When questioned about these purchases at the punishment hearing, Lester stated he didnt know he couldnt use the money for personal expenses. Lester asked the court for probation during the proceeding arguing that he could pay back what he stole. However, while the case was pending, he admitted to only paying back $2,000 and owed thousands of dollars to previous investors. Additionally, his partner at Logos Capital, Earl Layne, was convicted in federal court for fraudulently obtaining a loan and sentenced to a federal penitentiary. No one believed Lesters claim that he thought he could spend his clients money for his own expenses. Thats Financial Responsibility 101, said Assistant District Attorney Rodolfo Ramirez, Simply put, the defendant was living large off of a military veteran who worked hard to ensure he would be financially secure in his later years. Lester was prosecuted in the 400th District Court. Theft, Money Laundering and Misapplication of Fiduciary Property are all second-degree felonies in this case, punishable by 2 20 years in prison and a fine up to $10,000 on each case. The defendant was sentenced to 10 years in prison on each of the three charges after requesting the court to determine his punishment. Under Texas law, the sentences will run concurrently. |
| Booking location: | Fort Bend County, TX |
