SAN ANTONIO (AP) - A longtime friend admits to stealing more
than $473,000 from former Housing and Urban Development Secretary
Fred L. May III is a former college classmate of Cisneros' at
Texas A&M University. May pleaded guilty to fraud in federal court
today and is scheduled to be sentenced June 25.
Cisneros says he knew May and May's family through A&M and other
local connections and hired him in 2000 to help oversee his
retirement and insurance accounts. Cisneros didn't suspect any
problem until an employee of his housing investment company
CityView discovered a discrepancy in some of statements.
He said May has offered him no explanation for the theft.
Cisneros is a former San Antonio mayor who served as a HUD
secretary during the Clinton Administration.