Former San Antonio lawyer indicted on wire fraud, money laundering

SAN ANTONIO, Texas - A federal grand jury returned an indictment charging a former San Antonio attorney with wire fraud and money laundering. 

According to court documents, Christopher John Pettit, 55, made lots of material misrepresentations to clients to influence certain financial decisions and transactions through his law practice Chris Pettit and Associates, PC. 

Through false representations through emails, text messages and letters, Pettit allegedly persuaded clients to deposit money with his firm for services like living trusts, irrevocable trusts, wills and other estate planning services. 

The indictment alleges that, using client wired funds, Pettit opened accounts as the trustee, providing himself the ability to access and move the money to his own account. 

Other fraudulent schemes alleged in the indictment include falsely promising to invest client money in high percentage return bonds and instead wiring the funds to his personal account, and falsely representing himself as a "Qualified Intermediary" and encouraging clients to wire millions of dollars from asset sales into his own account.

According to court documents, Pettit used his victimized clients’ funds to pay other client debts as well as support an extravagant lifestyle.

Pettit is charged with five counts of wire fraud and three counts of engaging in monetary transactions in property derived from specified unlawful activity. 

If convicted, he faces a maximum penalty of 20 years in prison and a fine not to exceed $250,000. Pettit would also be ordered to forfeit all the money, obtained directly and indirectly, for which he is found liable from the counts.