Austin Business Journal - by Staff Reports

Date: Tuesday, December 14, 2010, 11:16am CST

http://www.bizjournals.com/austin/news/2010/12/14/pedernales-electric-ex-manager.html

Former Pedernales Electric Cooperative General Manager Bennie Fuelberg was handed a guilty verdict on three felony charges Monday, according to a Texas attorney general announcement.

Fuelberg, 66, faces 10 years probation with possible jail time and a $10,000 fine for each felony count. The electricity provider executive was charged with misapplication of fiduciary property, money laundering and theft after illegally diverting members' money to his brother and Lampasas attorney William Price. He reportedly could also be liable for repaying about $84,000 of the $700,000 he was accused of stealing.

Formal sentencing will be finalized at a later date, according to the press release.

Pedernales Electric is one of the largest electric distribution cooperatives in the nation with more than 236,000 members in Travis, Hays and Williamson counties as well as all or part of 21 other Texas counties. Fuelberg held the position for about 32 years ending in 2008.