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William C. Mays Sentenced to 20 Years for Securities Fraud and Theft

William C. Mays Sentenced to 20 Years for Securities Fraud and Theft 150 150 Rex Securities Law

William Charlton Mays, IV, a former investment adviser in Corpus Christi, Texas, was convicted of securities fraud and theft and sentenced to 20 years in state prison, according to a a September 19, 2014 press release from the Texas State Securities Board. 

His sentencing in the 214th State District Court of Nueces County includes 20 years for the fraud and 10 years for theft and will run concurrently.

Mays raised $225,000 selling investments in gold, silver and commodities trading and promised that the investments would earn 6-18% annual returns. Most of the money was spent on personal expenses with occasional payments to investors to perpetuate the Ponzi scheme. Follow this to read the indictment. 

Mays had worked as a FINRA registered stockbroker as was previously registered as follows:

  • SWS Financial Services 01/2011-11/2011
  • Summit Brokerage Services, Inc.  04/2009-12/2010
  • LPL Financial Corporation 09/2004-04/2009
  • Frost Brokerage Services  11/2000-10/2004
  • AXA Advisors  11/1998-11/2000

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

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