AUSTIN, Texas — A Travis County grand jury has indicted a man on charges of securities fraud, theft and money laundering in connection with a scheme to raise capital for two Austin-based health care companies.
Carl William Pollock is accused of engaging in criminal conduct in connection with the aggregate sale of around $1.5 million in investments issued by HRA-Healthcare Recovery Advisors, LLC, HRM-Healthcare Resource Management and Associated Healthcare Technologies, LLC.
The indictment said Pollock misrepresented the use of principal to at least 20 victims, claiming funds invested in HRA would be used to pursue financial recoveries from insurance companies on behalf of health care providers. Pollock is accused of intentionally hiding the true financial dealings, taking money from investors and paying personal expenses.
According to the Texas State Securities Board, Pollock also filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in Austin, a move that was allegedly concealed from investors. According to the indictment, Pollock also did not reveal lawsuits to victims, including a judgment finding him liable for more than $350,000.
Records show HRA and HRM had their charters forfeited when the businesses failed to pay taxes.
Pollock was arrested in April 2021 and was released on personal bond. He faces three first-degree felony charges, which could result in up to 99 years or life in prison if convicted.
The Texas State Securities Board said it investigated the case and is assisting the Travis County District Attorney’s Office in the prosecution.
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