Ronald Erik Lewis: Indicted

May 11

Ronald Erik Lewis of New Braunfels was indicted May 11 by a grand jury in Comal County State District Court for theft of property, money laundering, and fraudulent sale of securities in connection with the sale of investments in a "Stealth Wealth Program."

From 2008 to 2013, Lewis, directly and through sales agents, sold more than $300,000 in investment contracts to investors who would supposedly profit from Lewis' trading of futures contracts based on U.S. stock exchanges and a foreign exchange trading program.

The indictment alleges that Lewis operated a Ponzi scheme, using funds from new investors to make monthly "profit"payments to existing investors, and used investor funds to pay for his personal expenses.

Lewis allegedly failed to disclose to certain investors that he had traded prior investor funds as often as he had promised and did not earn the returns he promised.

Lewis also did not disclose two of his prior financial setbacks to investors in the "Stealth Wealth"program.

In 2005 Lewis filed a voluntary petition for Chapter 7 bankruptcy relief in the Northern District of Texas, Abilene Division. The case was discharged in 2006.

In 2006, a dispute resolution proceeding conducted by the National Association of Securities Dealers (now the Financial Industry Regulatory Authority) awarded a claimant a total of $43,750 plus interest against Lewis and Lewis Securities Inc. of Abilene. Lewis was registered as an agent until 2005.