Ex-UH-related foundation treasurer guilty of fraud

February 20, 2013 11:22:34 AM PST
A former treasurer of a foundation that benefits athletics programs at the University of Houston has pleaded guilty to wire fraud in a $1 million Ponzi scam.

Prosecutors say Brian Anthony Bjork of Missouri City pleaded guilty Tuesday in Houston. He's free on bond pending sentencing in June.

Bjork was an investment adviser with J. David Financial Group and Select Asset Management. Both were owned by David Salinas, who committed suicide in July 2011 just weeks before federal regulators filed a lawsuit accusing him and Bjork of selling bogus corporate bonds.

Prosecutors say Bjork on his own scammed nearly a dozen investors and used his position as treasurer of the Houston Athletics Foundation to steal about $550,000 from the group. A message left with UH athletics wasn't immediately returned Wednesday.

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