A Frisco, Texas, lawyer pleaded guiltyTuesday in a Texarkana federal court to wire fraud involving two Wake Village residents and a Miller County resident.
David Allan Krueger Jr. entered a guilty plea at a hearing Tuesday morning before U.S. District Judge Caroline Craven in the Texarkana Division of the Eastern District of Texas.
Krueger is the only defendant named in an indictment which was handed down in August.
According to his indictment, Krueger convinced his clients to invest in his misting fan business and created phony documents to make his scheme appear legitimate.
The indictment states that the government is seeking a judgment of $501,200 from Krueger.
“Beginning on a date unknown but no later than February 2014 and continuing thereafter through at least September 2015, defendant David A. Krueger, Jr. devised a scheme to defraud current and former clients of his law practice and to obtain money by means of false and fraudulent pretenses, representations, and promises,” the indictment states.
Krueger diverted client funds which he received via a wire transfer from a bank in Nash, Texas, which were supposed to be placed in a trust for a client in Wake Village.
“Instead, during the period September-December 2014,1 used the proceeds for my misting fan business, other unrelated business ventures, and my own personal benefit,” records state.
According to the State Bar of Texas website, Krueger is currently ineligible to practice law in the state of Texas.
Krueger’s case will be scheduled for sentencing later this year. He faces up to 20 years in federal prison.