Paul Adams Rush, former CEO of audiobooks retail chain Earful of Books, was sentenced Friday to 10 years in federal prison on 17 fraud and money laundering charges, the Western District of Texas office of the U.S. Attorney said in a statement. Rush was also ordered to pay more than $1.6 million in restitution.

In July, a federal jury found Rush guilty of two counts each of wire and bank fraud, eight counts of making a false statement in relation to a loan and five counts of money laundering. The charges stemmed from Rush's appointment as trustee of a trust created by an Austin couple for the couple's four children. Rush was convicted of stealing $529,000 to fund the now-defunct Earful of Books.

In late 2001 and early 2002, the U.S. Attorney's Office statement said, Rush obtained a series of loans or renewals of loans from two Texas banks. Rush was ordered to repay roughly $1.1 million to these institutions. The remainder of the ordered restitution, roughly $550,000, is due to the family whose trust funds were stolen.

In 1990, Rush was convicted of misapplication of bank funds by a bank employee and willful tax evasion in a U.S. District Court in San Antonio. From or about 1986 to 1989, Rush embezzled more than $500,000 from his employer, Frost National Bank in San Antonio. Rush was sentenced to 27 months in prison for this crime. This is according to the U.S. Department of Justice, U.S. Attorney's Office, Western District of Texas.