A nursing supervisor said Friday that Faulkner died at Lake Pointe Medical Center in Rowlett while in hospice care. Faulkner died Wednesday. He was 79.
Faulkner was convicted in 1991 of leading a racketeering conspiracy for projects along Interstate 30 east of Dallas.
The fraud involved repeated sales, known as land "flips," and grossly inflated property prices. Empire Savings and Loan Association of Mesquite and four other thrifts in Texas and Arkansas went bankrupt.
Faulkner in 1995 began serving a 20-year federal prison term. He was paroled in 1998 after being hospitalized at a medical prison facility for treatment of cancer.
Faulkner's funeral will be Sunday in Rockwall.