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Charges dropped in case against Andy Phillips

Phillips’ company, Phicof L.L.C., pleads no contest to felony theft charges

Posted: Wednesday, December 8, 2010 12:15 am

Charges against Andrew Phillips, CEO of Integrity homes, were dismissed Tuesday morning, but his company, Phicof L.L.C., for which he serves as its agent, pleaded no contest to separate felony theft charges and will pay more than $150,000 in fines and restitution.

Phillips, who was indicted in April, was accused of misapplication of funds by a fiduciary. According to court records, Phillips, a partner in Keystone Estates and CEO of Integrity Group Texas, was accused of acting as both lender and borrower on two unsecured notes that moved $308,000 from Keystone Estates to Integrity Homes between September and January.

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