Home San Antonio Press Releases 2009 San Antonio Area Stockbroker Pleads Guilty to Stealing more than One Million Dollars from his Clients
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San Antonio Area Stockbroker Pleads Guilty to Stealing more than One Million Dollars from his Clients

U.S. Attorney’s Office February 18, 2009
  • Western District of Texas (210) 384-7100

The United States Attorney’s Office announced that Bruce E. Hammonds, of San Antonio and Boerne, Texas, faces up to ten years in federal prison after pleading guilty this afternoon to securities and wire fraud charges.

Appearing before United States District Judge Xavier Rodriguez, Hammonds admitted that as early as August 2006, and continuing until on or about October 15, 2008, he defrauded investors whereby he used investor funds for personal benefit rather than investing them as he had been retained by his clients to do. Authorities estimate that Hammonds stole more than $1 million from his clients.

Sentencing is scheduled for 10:00 a.m. on May 29, 2009, before Judge Rodriguez.

This investigation was conducted by agents with the Federal Bureau of Investigation and the Texas State Securities Board. It is being prosecuted for the government by Assistant United States Attorney Bill Harris, Assistant United States Attorney Mary Nelda Valadez and Special Assistant United States Attorney Rhonda Rogers.

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