Man pleads guilty to felony money launder, securities charges

As his trial date neared, Jefferson Villines III pleaded guilty to three felony offenses, including money laundering, theft of property and securities fraud.

Villines entered an open plea on the heels of his four-day special trial date set to be overseen by 451st state District Judge Kirsten Cohoon.

As a result, a pre-sentencing investigation will be conducted into Villines’ actions, and Cohoon will determine if the money mover will spend time behind bars.