Ken Paxton

Tuesday, May 31, 2011

Former PEC Lawyer Walter Demond Found Guilty of Three Felony Charges

Statement from Jerry Strickland, Communications Director, Office of the Attorney General:

"A Kendall County jury today found former Pedernales Electric Cooperative legal counsel Walter Demond guilty of all three felony charges outlined in his June 2009 indictment. Demond was found guilty of theft, misapplication of fiduciary property and money laundering. The jury recommended that Demond receive 10 years probation and be required to pay a $10,000 fine for illegally diverting funds from the cooperative's members. As a condition of probation, State District Judge Dan Mills ordered Demond to serve 500 days in jail and pay $212,000 in restitution. We are grateful to the jurors for their service and hard work on this very important case."