Or so the saying goes. Billy Allen Fletcher claims he was an innocent dupe in what has turned into a Federal white collar crime investigation
into a "Pump and Dump" scheme allegedly undertaken by Lois Newman and her son in law "Nick" Jarvis. Mind you, Fletcher is a former Sergeant with HPD's White Collar Crime division, so you'd think he would know better right? Fletcher claims that prior to the NuTech deal in May of 2007, he was heavily indebted and had borrowed hundreds of thousands of dollars from a number of people in order to just make payroll at his company, RPM. He also admits that he knew that his business partner had a felony record but that he had no reason to think that he was not legitimate. Apparently Nick Jarvis explained it all away. Oh, and let's not forget that he ran afoul of Nick's brother trying to do the same thing a couple years earlier but wised up and backed out of the deal. Nick's brother also had a felony record too apparently.
I guess this falls under the category of "situational ethics". When you are broke and about to go bankrupt, getting involved with a shady deal might not be so bad after all....
But here is the thing that really gets me: He still owes a lot of people a lot of money that he borrowed back in 2007. And the feds have essentially shut down NuTech, so he can't possibly be making money from there. So just how exactly is it that he managed to fund a campaign for the State Lege, and then managed to keep himself out of bankruptcy while spending six months every other year up in Austin running his mouth? they don't pay legislators squat, so who is paying his bills while he's up in Austin shooting off his mouth?