HOUSTON (AP) A 52-year-old Houston man who portrayed himself as a pastor running a religious-themed investment program is charged with 24 counts of fraud for what federal prosecutors say was a real estate scheme that cost a Mississippi woman $650,000.
U.S. Attorney Kenneth Magidson says Samuel Ray Palasota has surrendered to authorities and was to appear before a federal magistrate in Houston.
An indictment unsealed Thursday describes Palasota as manager of a firm called "The Maker's Resources" where in 2009 he made false promises and representations about reselling foreclosed homes around Houston. Prosecutors say he duped the unidentified Mississippi woman to invest with him proceeds from a $1 million divorce settlement but spent the money on himself.
If convicted, he could get up to 20 years in prison on each count.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.