The Herald Banner, Greenville, TX

Local News

July 1, 2013

Prison sentence issued in rainforest fraud

GREENVILLE — A state district judge has made sure a Rockwall man will be thinking about the rain forest during the first weekend of June for the next decade.

The Texas State Securities Board reported Michael D. Alexander was convicted last month of one indictment alleging securities fraud of $100,000 or more and one indictment alleging theft of property of $100,000 or more, for selling shares in a non-existent timber-harvest operation along the Amazon River.

Alexander was alleged in the indictments to have offered for sale or sold shares in Ecowood Recuperadore De Texas and Ecowood Resources International Inc. to three individuals between Aug. 30, 2007 and April 9, 2008.

Alexander was sentenced June 6 to 10 years in state prison on each charge and was ordered to pay restitution of $175,000 to the three investors.

But 49th District Court Judge David Rakow of the 49th state District Court, to stress the restitution part of the sentences, sent Alexander to jail the evening of June 7 and released him the morning of June 10. The judge said Alexander will spend the first weekend of each June in jail to remind him of what will happen if he does not pay the restitution during the next 10 years.

Texas State Securities Board enforcement attorneys Dale Barron, Alexis Goldate, Tina Lawrence and Travis Iles prosecuted the case in cooperation with the Rockwall County District Attorney’s Office.

Alexander was the CEO of the purported logging company. He told investors they would profit when Ecowood was sold, although Alexander held no licenses to harvest timber from the Amazon. Instead, prosecutors claimed, Alexander spent investors’ money on two mortgages, private school tuition, construction of a swimming pool, restaurant charges and trips to Disney World in Florida and Puerto Vallarta, Mexico.

1
Text Only
Local News
Featured Ads
Poll

What's your favorite spring high school sport?

Swimming and diving
Wrestling
Basketball
Soccer
Tennis
Golf
Track and Field
Softball
Baseball
     View Results
Facebook
Photos


See more photos and purchase prints here.

AP Video
Tributes Mark Boston Bombing Anniversary Raw: Kan. Shooting Suspect Faces Judge US Supports Ukraine's Efforts to Calm Tensions Suspect in Kansas Shootings Faces Murder Charges Ukraine: Military Recaptures Eastern Airport Raw: Storm Topples RVs Near Miss. Gulf Coast NASA Showcases Lunar Eclipse Pistorius Cries During Final Cross-Examination The Boston Marathon Bombing: One Year Later Michael Phelps Set to Come Out of Retirement First Women Move to Army Platoon Artillery Jobs Sex Offenders Charged in Serial Killings Police: Woman Stored Dead Babies in Garage OC Serial Murder Suspects May Have More Victims Family: 2 Shot in Head at Kan. Jewish Center Raw: Horse Jumping Inspires 'Bunny Hop' After Attack, Officials Kill 5 Bears in Florida Popular Science Honors Year's Top Inventions ND Oil Boom Attracting Drug Traffickers
Must Read
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Reader's Choice