Former Houston Athletics Foundation Treasurer Guilty of Wire Fraud
Brian Bjork Pleads Guilty to $1.4 Million Fraud Scheme
Brian Bjork, an associate of the Texas financial adviser who committed suicide while under federal investigation in 2011, pleaded guilty in a Houston federal court on Tuesday to a single count of wire fraud. The primary victim in his $1.4 million fraud scheme was the organization that raises money for athletic scholarships at the University of Houston. He acknowledged that his scheme included $500,000 stolen from the nonprofit Houston Athletics Foundation while he acted as treasurer from 2004–2011. The remaining funds were stolen from eight individual investors.
Scam Within a Scam: Misuse of Funds and Falsified Statements
According to the plea agreement, Bjork wrote checks disguised as bond investments in what is being labeled as a “scam within a scam.” The money was then deposited into an account he had set up “to support his lifestyle and pay prior investors.” He also used his signatory authority with the organization to move funds to the account, and to fool the foundation’s auditors Bjork would generate fictitious statements for his transactions.
The Associated Press reported in December 2011 that the foundation may have lost over 40% of its listed assets because of Salinas’ alleged scheme.
Connection to David Salinas and Houston Select Basketball
Bjork was a business associate of David Salinas and a former student manager for the basketball team at Rice University. He was also the co-founder of Salinas’ basketball program, Houston Select Basketball.
Bjork’s attorney, Matt Hennessy, declined to comment Wednesday on a plea and what it may mean for his client. The single wire fraud charge carries a maximum sentence of 20 years in prison and a $250,000 fine. Sentencing is scheduled for July 14th.
Facing Federal Wire Fraud Charges?
If you’re in Alabama, Georgia, Florida, Mississippi, or Tennessee and facing federal wire fraud allegations, it’s critical to consult with an experienced attorney. Visit our wire fraud defense page to learn more about:
- Legal strategies to fight wire fraud charges
- Penalties and federal court procedures
- How we defend clients in cities like Birmingham, Atlanta, Pensacola, Jackson, Nashville, and beyond.
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Contact us now for a consultation on your case. We represent clients across the Southeast United States, including university officials, business owners, and non-profit treasurers under investigation.