David Allan Hilburn, of Missouri City, Texas, was indicted on August 29, 2007, in the 339th District Court of Harris County, Texas, Cause No. 1131000, on charges of securities fraud involving an amount of $100,000 or more with 105 victims named in the indictment.
Indictment notice here
Scroll down to August to view the indictment
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25 comments:
David Hilburn is 85BizBear
David is also a close associate of Brian(Wacoso) and his lovely wife Kristen(BearChick).
Hilburn flipped burgers for Brian after he took the money and ran.
they gonna be lookin for a new fry cook now.
pretty damn funny that the only job he can get is as a fry cook at a friends joint.
On June 6, David was sentenced to 20 years in prison. I served as a witness for the defense and testified on his behalf.
Perhaps those of us who know David well should be the ones to post comments about him. We're the ones that know his heart and what God is doing in him as a result of this. Or, if you're going to post comments about him, at least have some guts and don't hide behind "anonymous."
Steven
Class of 1992
Mr. Murray, let me ask you a question. Did you lose any money in one of David's investments?
Mr./Ms. Anonymous ... no, I did not lose any money. However, one of the other defense witnesses did. Though he lost money based on David's actions, he still testified as to who David is now -- a different man. We all agreed he deserved punishment, but not two decades in prison.
Yes Mr. Murray did you lose any money or are you to ashamed to admit it? You say you knew him well so can we assume that you are in on his scams or at least knew about them and did nothing. I think you only know Mr. Hilburn by what he wants you to know about him. If you knew him well you would know that he has a long history of lying to people so did you ever think he was lying to you? Do the research. Yes Mr. Hilburn is a con man and now people are starting to find out.
I have not seen any posts on here that were not the truth. If someone is hiding behind anonymous so be it, who cares as long as they speak the truth. It would be a different story if people were posting untruths and hiding behind anonymous but it does not appear that way.
Murray,
You sound a lot like Hilburn. Hilburn steals millions, spends all the cash on cars and vacations and we're bad guys because it shows up on anonymously on a blog.
No one is saying anything here that isn't public record.
Mr./Ms. Anonymous,
I do not engage in conversations with anonymous posters.
Once a con man always a con man. He is doing what most criminals do hiding behind the bible.
Quite telling that 85bizbear hasn't been online while Trader's been in the pokey
He's not in yet, but soon, his info will be here.
http://168.51.178.33/webapp/TDCJ/index2.htm
"Though he lost money based on David's actions, he still testified as to who David is now -- a different man. We all agreed he deserved punishment, but not two decades in prison." (If he is a good little boy he will on server five.)
A different man? This is not his first time to take other peoples money and then say - "oops I was just kidding..." Read the links below for that proof...
You are right Mr. Murray we are not close buddies with Hilburn like yourself. I would never befriend a scam artist such as Hilburn, bring him around my family and then defend his actions.
Is this the David Hilburn you know?
Brazos Receivership
Texas Scam Artists
Disbarred Attorney
ATTORNEY DISCIPLINARY PROCEEDINGS
ATTORNEY DISCIPLINARY PROCEEDINGS
Securities fraud scammer gets 20 years in slammer
Note from the Chron story that the adult entertainment expense was so large it was included. I hear it was around 60K.
Also if you note from his last blog entry it says - "So I did as He told me. I shelved those plans and when the truck driver passed, he waved. I returned the greeting."
What? When was the last time a trucker driving 60+ MPH waves at on coming traffic? This is another lie!
The sad part is that he is such a smart person and has wasted all that talent.
Yes, several of my family members lost money to Mr. Hilburn.
"Perhaps those of us who know David well should be the ones to post comments about him."
Sounds just fine to me. Allow me to reiterate my earlier post, given that I now have "permission" to do so - since I do known him well.
No matter the years we have known him, whether high school, college, post-graduate, law school, or before he was disbarred - do any of us really know him? I suspect not even David knows his true self. Isn't his pattern of behavior indicative of that - someone searching to find themselves? Someone lacking self-confidence, wholly cloaked in insecurity, trying to make their way through life and feeding off of other's misfortune, on the one hand, and good fortune, on the other?
Do you know of the thousands of dollars he outright stole from his clients when he was practicing law? Have you read all of the grievances filed by those clients? Did he tell you, as he did others, that it's all because of the heartache he was feeling because of his broken marriage? Nothing more than excuses.
Think about how little time he had his law license before he started stealing from his clients, or from those fellow members of the Bossier Parrish Bar Association. And then, even after being suspended from the practice of law for one year and one day, he's STILL got caught lying when he continued to represent clients. Leaving one client and her son helpless in a courtroom when he was caught violating that suspension by the marshall. Can you imagine how you might feel in that situation? The outrage? The helplessness? To have paid someone your hard-earned wages to help your son, and then lied outright to you time and time again.
Did he learn a lesson from that? No, of course not. He "retired" from the practice of law. Turned right into scheming and defrauding more victims. But all along attending church, making friends, quietly and subtlely telling them about his hedge fund and how it works. Telling them how little money it would take to invest to reap great rewards. Even after 9/11, Dave was claiming to be up in the market when every other investor in the world was down. Invest with him ... doesn't take much.
And during that time, he was receiving notice after notice from the La Grievance Committee advising him of grievance hearing. Did he attend? Did he respond in any fashion? No. Then, the Louisiana Supreme Court finally permanently disbarred him from ever practicing law again. Why? Because he doesn't have the moral character to hold that kind of position. Doesn't qualify to be in a position of trust and confidence with clients. Do you understand the enormity of being permanently disbarred?
Imagine, if you would, what his life would have been like if he had used his intelligence, gifts, and talents for good? Imagine how wealthy he'd be - both in character and in the material things he so cherishes. If he'd been honest and forthright in every situation and with every person. Imagine. God's talents bestowed upon him, only to be squandered and used against innocent victims who trusted him with their life and then with their life savings.
He'll continue along the very same path he's been walking for almost a decade - if not longer. Dave doesn't know how to be honest and forthright. And he isn't going to learn that in jail.
I find it amazingly ironic. He's actually going to be housed in a place where he can return to practicing law. There aren't any prohibitions against unlicensed incarcerated persons representing others while in jail. There, I suspect, he'll find a new group of folks he can manipulate, con, deceive.
I'm curious - will the SEC and the FBI get a piece of him too? Was part of his scheme in violation of any federal laws?
In truth, I can appreciate your hopefulness and faith in your statement that Dave's a changed man. You obviously believe that, given that you testified under oath. I suspect you will ultimately find yourself in the same place with the rest of us. Because when he no longer needs you - and no matter how long you've known him, that time will come - you'll find yourself in our shoes. I pray this doesn't occur. I wouldn't wish this on an enemy much less on someone I only know of.
It's nice to see that there are those who continue to keep the faith and hold out hope for Dave. I'm not sure I fall into that category. I am still working that out with God's help.
For those of you who attended the sentencing hearing and testified against him, I can only imagine how hard that must have been for you. The courtroom can be an intimating place - and to have to admit that you were taken in by a con who squandered your life savings for his own personal use and gain must have been extremely emotional and difficult. In many ways, I am glad that work obligations precluded me from sitting in the back of the courtroom and observing because I fear that it would have only served to anger and upset me more than I already am. I am also glad that I held my own investments within legitimate funds. There was something far "too good to be true" in all the hype he told me. And, more than anything else and most important, I am thankful to God that he shielded me and changed my own path so that it no longer tracked along Dave's. Allowed me to find other friends who served to replace that alleged friendship with Dave. In truth, I have had, and continue to have, a difficult time believing that Dave was ever really my friend. I think I was only a means to connections - or to be seen as someone who could lend legitimacy and character to this person who "does not possess the requisite moral fitness to practice law." He's a user.
While I can't state with any personal knowledge that Dave used you, and the others who testified for the defense, I do have my suspicions. Dave's a user.
We can all hope and pray that time spent without the comforts and freedoms of home will work their way into his entire being and God will use that opportunity to positively impact change in Dave's life. It is possible. But in my mind, it's unlikely.
Public Information Inquiry
LAST NAME HILBURN
FIRST NAME DAVID
DOB
SPN NUMBER 02312759
SSN
Jail - 701 N. San Jacinto (JA07)
CHARGES FOUND =1
INFORMATION ACCURATE AS OF 06/16/2008 - 16:00
NAME HILBURN, DAVID ALLEN SPN 02312759 DOB 07/09/1963
JAIL JA07/3B2 02C BOOKING DATE 06/06/2008
UP DATE OUT DATE
If the up date is the same as the out date, payment of the fine amount is not required to release the inmate from custody on that case.
CASE # 113100001010 BOOKING DATE 06/06/2008
CHARGE SECURITIES OFFENSE
COURT 339 COURT DATE 06/06/2008
BOND AMT 50000.00 FINE BALANCE DUE
We all agreed he deserved punishment, but not two decades in prison.
What did he deserve then Steven Murray? What about the victims that lost their ENTIRE life savings? What do they deserve?
Doesn't locking him up serve as protection to innocent people that deserve protection from financial predators?
Just to illustrate the point, why don't you let me blow your life savings and then we can talk about what's fair and what's not. Let me know how to get to your bank account.
I can see why this guy had no remorse, he's surrounded by people with morally relative beliefs.
"We all agreed he deserved punishment, but not two decades in prison."
Let's do the math. There were 105 victims listed in the indictment against Hilburn. Hilburn was sentenced to 20 years in prison for his crimes. 20 years is 1040 weeks. 1040 weeks divided by 105 victims equals 9.9 weeks per victim - let's just go with 10 weeks, to use even numbers.
I find it impossible to believe that ANYONE would think that 20 year is enough of a sentence to punish him for his theft of the life savings "largely from people in their 50s, 60s, and 70s"?
10 weeks of jail time per victim. I suspect those victims find the sentiment, "We all agreed he deserved punishment, but not two decades in prison" incredulous and obsurd. And when all is said and done, and he's conned the parole board, he likely will serve maybe 5 weeks per victim. Oh yeah. That's jutice.
Sad thing is he will probably come up for parole in about one year. TDC has a 6:1 days going right now.
Word is Murray profitted from Hilburn's scam along with Brian and Kristen. Let's see if someone comes to visit them.
People keep alleging that the other tailgating buddies Bearchick and wacoso have some kind of connection to traders scheming ways. what are the allegations there? they dont make any sense if you ask me, with all the heat put on those two something wouldhave come out by now.
Updated incarceration information on Hilburn -
Offender Information Detail
SID Number: 03272683
TDCJ Number: 01511463
Name: HILBURN,DAVID ALLEN
Race: W
Sex: M
Age: 45
Maximum Sentence Date: 2028-06-01
Current Facility: COLE
Projected Release Date: 2017-08-24
Parole Eligibility Date: 2010-09-21
--------------------------------------------------------------------------------
Current Offense Data:
Offense Date Offense Sentence Date County Case No. Sentence (Y-MM-DD)
2003-01-01 SECURITIES FRAUD OFFENSE 2008-06-06 HARRIS 1131000 20-00-00
Projected Release Date:
Projected Release Date is the date, which is determined by the TDCJ Institutional Division Records Office, that an offender is projected to be released from incarceration if not released on parole sooner. The calculation of the projected release date is affected by offense title and offense date.
Here is the posting from the Houston Chronicle via baylorfansz.
http://www.baylorfansz.com/david-hilburn-article-in-houston-chronicle-t14.html
God help us all if that Monster gets paroled in only two years.
Parole Eligibility Date: 2010-09-21
I wonder how long it will take to make restitution of $3.2 million?
Texas State Securities Board
208 E. 10th Street, 5th Floor
Austin, Texas 78701-2407
www.ssb.state.tx.us
June 6, 2008
PRESS RELEASE
FOR IMMEDIATE RELEASEContact: Denise Voigt Crawford
Securities Commissioner
(512) 305-8306
DISBARRED LAWYER SENTENCED TO 20 YEARS IN PRISON
FOR FRAUD ON SENIORS
(Austin, Texas) Securities Commissioner Denise Voigt Crawford announced that earlier today the Honorable Caprice Cosper sentenced David A. Hilburn to serve 20 years in prison and ordered him to pay $3.2 million of restitution in connection with his conviction for securities fraud in Cause No. 1131000, in the 339th District Court of Harris County, Texas.
Mr. Hilburn, a disbarred lawyer from Louisiana, operated Brazos Valley Capital, an investment fund that was marketed to senior citizens from the Houston office of Texas Senior Services, LLC. Operating until 2006, the fund obtained in excess of $10 million from approximately 80 investors. Mr. Hilburn misrepresented the profitability of the fund and concealed misuse of prior investor funds as well as his disbarment.
Prior to Mr. Hilburn's indictment for the offense, the Texas Securities Commissioner issued an Emergency Cease and Desist Order and sought a receivership and injunction against Mr. Hilburn and affiliated entities. The receivership resulted in the entry of a civil court order last year for the distribution of approximately $4.7 million to investors.
The Securities Commissioner stated: "It is of the highest priority of the Texas State Securities Board to protect vulnerable investors from such frauds through vigorous enforcement actions. Fraud on our senior population is unconscionable."
The case against Mr. Hilburn was investigated by the Texas State Securities Board and prosecuted by the Harris County District Attorney's Office.
Commissioner Crawford cautions investors to protect their funds from unscrupulous salespersons, and to investigate before investing in any type of securities offering. To find out if a securities offering that you are considering is registered to be sold in Texas, please contact the Texas State Securities Board at 512-305-8300 or visit its website at www.ssb.state.tx.us. To learn about the Texas State Securities Board and its investor education Program, please visit www.texasinvestored.org.
I doubt my parents will see a dime of their 250K. My parents are blue collar and that was half of their retirement. Sometimes my mother would wake me up in the middle of the night just so I could give my father a hug/kiss. He would be at work before I went to bed and go to work before I got up for school.
"I wonder how long it will take to make restitution of $3.2 million?"
I bet Mr. Murray has never had 250K stolen from him just a few years from retirement age.
To the anonymous person who posted on July 7 at 9:10 pm:
I usually do not reply to anonymous postings, especially ones with vague and unsubstantiated accusations. However, I have never had any financial dealings with David, nor have I profitted from his actions.
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