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Monday, July 29, 2013
The man behind the failed Wild West World theme park has been paroled after serving 3 years of a 5 year sentence.
In 2010, 59-year-old Thomas Etheredge was convicted of 7 counts of securities fraud from his efforts to raise capital for Wild West World in 2006 and 2007. A jury found that Etheredge failed to disclose prior criminal convictions and investment risk to seven investors, who gave him between $50,000 and $300,000 each for the park's development.
Wild West World opened on May 5, 2007, then went bankrupt and closed 3 months later. Etheredge blamed the attendance and reason for closing on bad weather.
Today, Etheredge was released from a work release center, and will be under parole supervision in New York state.
Etheredge had served previous time in the late 80s on similar charges.