Tuesday, November 23, 2010

Former Texas Municipal Manager, Brother Indicted In $4 Million Misappropriation Scheme

Ronnie Cain, 60, of Windcrest, Texas and his brother, Gary Cain, 53, were indicted on charges they conspired to misappropriate some $4 million from the City of Windcrest, where Ronnie Cain had served as chief administrative officer and Rackspace Hosting, Inc., a local Internet hosting company. Gary Cain, a developer, was alleged to have fraudulently received about $2.8 million from an account funded by the company for Windcrest to use for infrastructure improvements.

Read the story here, here and here.

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