California Man Convicted of Fraud in Connection with Sale of Phony Oil Wells

January 21, 2015 Uncategorized
A federal jury in Kentucky convicted a California resident of mail and securities fraud.  The promoters of the scheme sold “interests” in oil wells in southern Kentucky.  The fraud was perpetrated by providing investors with false geological and drilling surveys.  In at least one instance, the promoters gave investors containers of oil to “prove” that the wells were producing.
A word of caution to investors:   if it sounds too good to be true, it likely is.  If you believe you have been defrauded in connection with any investment you have made, please contact us.
Uploaded by Ryan Gustafson, Esq.  January 21, 2015