Walter Demond, the former Clark, Thomas & Winters attorney who represented the Pedernales Electric Cooperative for decades, took the witness stand in his own trial today.
Under questioning from his attorney, Gerry Morris, Demond said he did not steal, misapply funds, or launder money, which are the charges he is facing.
Morris asked Demond how he now feels about the legal bills his firm sent to Pedernales that he is accused of inflating. “I hate to say it under oath, but I feel pretty stupid now,” he replied.
Prosecutors say Demond inflated bills to Pedernales and used $700,000 in co-op money to secretly pay relatives of co-op executives over several years.
Read the full article at the Austin American-Statesman.