A former financial adviser in South Texas who served as a pallbearer at a client's funeral then opened a bank account in the dead man's name is going to prison.
A federal judge in Corpus Christi yesterday sentenced 58-year-old Douglas Eugene Vannoy of Kingsville to five years in prison. Vannoy also must pay nearly $94,000 in restitution.
Vannoy last May was indicted on mail fraud, bank fraud and money laundering charges. He pleaded guilty in January to money laundering, leading to dismissal of the other counts.
Local newspapers report the prosecution involved the finances of Jim Maxwell King, who died in July 2008.
Prosecutors said Vannoy later used King's funds to open a bank account in the dead man's name, then withdrew money for his personal use.
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