On March 10, 2000, William Edward Stewart was sentenced to 20 years confinement in the federal penitentiary. Stewart had previously been indicted by a federal grand jury in the U.S.District Court in the Eastern District of Texas for conspiracy, wire fraud, aiding and abetting an offense and money laundering. He subsequently pleaded guilty to money laundering, Court 6 of the indictment. Stewart was also ordered to make restitution of $1,886,200. Over $700,000 of Stewart's assets that were seized were obtained with investor funds. The cause number in this matter is 1:99-CR-00026-001 in the U.S. District Court,Eastern District of Texas.