Woman Sentenced To 80 Years In Texas State Prison For Felony Theft In Case That Flowed From Ponzi And Fraud Scheme

Karen Patricia Bowie: Source: Collin County Sheriff's Office.

Karen Patricia Bowie: Source: Collin County Sheriff’s Office.

Karen Patricia Bowie, whom the SEC described in 2009 as a citizen of Canada who bought a house in Maine with fraud proceeds from the Titan Wealth Management LLC Ponzi scheme in Texas, has been sentenced to 80 years in Texas state prison.

The Texas State Securities Board described Bowie, 61, as a “foreign notes scammer,” saying she “personally benefited from $2 million of investor funds.”

Bowie was prosecuted criminally under Texas state law for felony theft by the Collin County District Attorney’s Office.

Thomas Lester Irby II, whom the state described as a Bowie business partner, was sentenced in 2010 to 24 years in state prison. Irby was Titan Wealth’s owner. The company was based in Plano, Texas.

Judge Benjamin N. Smith of the 380th State District court in Collin County sentenced Bowie after a week-long trial, prosecutors said.

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