FOR IMMEDIATE RELEASE

HILL COUNTRY WEALTH CEO INDICTED FOR MISHANDLING ELDERLY CLIENT’S FUNDS

San Antonio, Texas: August 19, 2009:

This morning District Attorney Susan Reed presented to a Bexar County Grand Jury the case against Jeremy McGilvrey, CEO of Hill Country Wealth. McGilvrey, 32, returned indictments by a Bexar County grand jury for Securing Execution of a Document by Deception, Theft $100,000 to $200,000 Elderly, and Misapplication of Property by a Fiduciary, all of which are first degree felonies. It is alleged that McGilvrey promoted himself via Hill Country Wealth as a prudent, conservative financial advisor who used sound principles to protect client funds and investments.

The State alleges in the indictments that McGilvrey solicited and accepted a $100,000 check from Anthony Knopp, 85, a Fredericksburg resident. It is alleged that Knopp was induced to give that money to McGilvrey with the understanding McGilvrey would invest the money on Knopp’s behalf. The State alleges that contrary to that agreement, McGilvrey diverted the funds for his own use to pay off other investors. The indictment arises from an investigation by the Texas State Securities Board and the District Attorney’s Office. Currently, the Texas State Securities Board, the District Attorney’s Office and the San Antonio Police Department are jointly investigating additional allegations made by other investors. Additional charges are expected to follow.

One indictment charges Jeremy McGilvrey with one count of Theft from the Elderly $100,000-$200,000 and a second count of Misapplication of Fiduciary Property from the Elderly $100,000-$200,000. A second indictment charges McGilvrey with Securing the Execution of a Document by Deception from the Elderly $100,000-$200,000. Due to the victim being 65 years of age or older, the range of punishment is raised one degree under “elder fraud enhancement provisions” and thus are classified as first degree felonies. The range of punishment on each felony is from 5 to 99 years or life in prison, along with a possible fine of $10,000. The case is pending in the 186th District Court. Bond has been set at $250,000 on each case.

McGilvrey was arrested this afternoon by a District Attorney Investigator and a Detective from the San Antonio Police Department White Collar Crime Unit.

For more information, contact District Attorney Susan D. Reed at 335-2342.