PEC lawyer found guilty

Walter Demond
Walter Demond

A Kendall County jury found former Pedernales Electric Cooperative legal counsel Walter Demond guilty of all three felony charges outlined in his June 2009 indictment.

Demond was found guilty of theft, misapplication of fiduciary property and money laundering. The jury recommended that Demond receive 10 years probation and be required to pay a $10,000 fine for illegally diverting funds from the cooperative’s members. As a condition of probation, State District Judge Dan Mills ordered Demond to serve 500 days in jail and pay $212,000 in restitution.