Tyler Man Found Guilty of Forgery, Money Laundering, Stealing $300K in Investments

February 29, 2024 - Tyler, TX - John Russell Hobbs has been found guilty in Judge Austin Reeve Jackson’s Court on charges of forgery, money laundering, and theft involving at least $300,000 in stock dividends.

Hobbs was arrested in July of 2022 for allegedly selling BP and Exxon stock that belonged to five individuals, intending to distribute the funds among himself and two others. The case, initially brought to the Tyler Police Department’s financial crimes unit by the FBI, revealed about $992,000 transferred from a BBVA account to a joint account shared by Hobbs and Betty Jo Collins.

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