A Blanco County Grand Jury today indicted former Pedernales Electric Cooperative general manager Bennie Fuelberg and attorney Walter Demond on three felony charges including theft and money laundering.
A spokesperson for Attorney General Greg Abott announced the indictments today but declined to name the defendants. A source familiar with the investigation, speaking on the condition he not be named, told The Mercury the defendants are Fuelberg and Demond.
They are both charged with one count each of misapplication of fiduciary duties in excess of $200,000 and theft of property in excess of $200,000, both first-degree felonies punishable by up to 99 years in prison. They are also charged with money laudering, a second-degree felony punishable by up to 20 years in prison.
UPDATED 9:20 a.m. JUNE 18: State Rep. Patrick M. Rose released a statement that said, “The has acted swiftly and effectively. I appreciate his leadership on behalf of PEC’s members. The Grand Jury’s actions today will allow all of PEC’s employees, who honorably serve their customers, the ability to move forward and continue to provide reliable and affordable energy. These indictments only heighten the need for legislation that guarantees democratic elections and open governance for all Texans served by co-ops.”Email | Print