Down Texas way, Harris Dempsey "Butch" Ballow spent the years immediately preceding and following the turn of the millennium swiping millions from unsuspecting investors and investment banks who probably should have known better (a little due diligence would have turned up Ballow's wife's felony conviction).

The generally good news is that the faux-pious Butch, who used to drumb up his best marks at church, was actually busted in 2003 and prosecuted on one count of money laundering (a good start, at least). However, just before he was to be sentenced in December 2004, Butch bailed. He lit out for the territories and hadn't been seen since.

It was assumed after his disappearance that Butch continued his stock swindles in sunnier climes outside the continental U.S. Prosecutors were even able to determine that the unrepentant Ballow had started up a new scam between the time he was convicted and his sentencing date. Big brass ones - he's got em. And I do not mean candlesticks.

Houston area private investigator, John A. Moritz recently tracked Ballow down to an office in Merida, Mexico. Moritz was acting on behalf of former Ballow investor, Abilene-based businessman Jakie Sandefer. who has an $8.5 million judgment on the books against Ballow and is, quite intently, looking to collect.

Unfortunately, once tipped off the FBI was unable to capture the gift-wrapped Ballow, who remains at large. You can get all the gory details via the Houston Chronicle, which also helpfully provides a link to Ballow's FBI wanted sheet. If you happen to meet this man a la iglesia en Guadalajara do not loan him money.

-- MDT

Labels: Butch Ballow, Harry Dempsy Ballow, John A. Mortiz, money laundering, pump and dump