Wednesday, September 2, 2009

Kelly G Rogers of Texas files Bankruptcy on July 27, 2009

On July 27, 2009, Kelly Gordon Rogers of Texas filed Chapter 11 in the United States Bankruptcy Court. A Chapter 11 filing takes place when an individual or corporation cannot pay it's creditors. The idea is that the debtor's income can continue so they can pay off creditors. The entire process is conducted under court supervision. (See Update II, Update III and Update IV)

The case 09-42152 was filed in the Eastern District of Texas, a Voluntary Bankruptcy. Two subsequent documents were filed: Chapter 11 statement of current income and Summary of Schedules. Many of these documents can be found at the Collin County Clerks website at http://www.co.collin.tx.us/offline_status.jsp. Here you can find a complete listing of liens and actions, all recorded and accessible to the public.

Total assets listed for Mr. Rogers total $3,273,975.00 while money owed to creditors totals $6,458,794.38. Total estimated income for Mr. Rogers is listed at $30,000 per month and his spouse, who was not included in the filing, has an estimated $45,000 per month. Income listed for the year 2007 was $756,587 and $588,012 for 2008. Income sources were listed as Quixtar and Noble Royalties and Oil Reserves (Make sure to check out the last line of the Noble Royalties link about contacting Kelly Rogers for more information).

Property included as 'exempt' totals $3,160,000 including a home listed on the attached website at $3,250,000. Additional photo's have been included;







Creditors holding secured claims against Kelly Gordon Rogers are no fewer than 3 lenders totalling $1,857,000, while 6 full pages are dedicated to others owed. In total, 24 creditors have secured claims against the above listed property including; unpaid property taxes totalling $6,961, unpaid Frisco school taxes in the amount of $12,208 unpaid time share fees and mechanics liens for renovations of the home.

Unsecured priority claims include $13,266 to the IRS. Additionally, unsecured non priority claims amount to 9 pages overall. Included are 2 law firms, one in Boston for $28,263 and the other in Dallas for $77,934, 18 listed as lawsuits, a variety of vendors who worked on the remodel, a charge for a lavish elevator and a host of others. In total, 42 individuals or companies are owed money. Ironically, one of the creditors listed is Kelly Gordon Rogers own company, Falcon Energy, LLC.

As a strategy against Mr. Rogers filing, one group of creditors have filed a Motion for Rule 2004 Examination of Kelly Gordon Rogers with the Bankruptcy court. This motion extends the scope of examination beyond the normal rules and is equated to a "fishing expedition" for the purpose of discovering assets and unearthing frauds.

This bankruptcy filing comes at a convenient time for Mr. Rogers. Not only is he embroiled in a variety of lawsuits, he was indicted on July 30th of 2009 by the grand jury in Collin County. Based on the rash of lawsuits against him, it would appear Kelly Rogers has a history of finanical wrong doing. History shows he was sued in 2007 by the SEC for playing a role as a "Facilitator" in a Ponzie Scheme. The Scheme was shut down in 2006 but not before countless friends and associates were wiped out as a result of these fraudulant investments. In 2009, the trail of persoanal bankruptcies and financial devistation is still being felt by many. While the SEC eventually ordered him to pay disgorgement of $100,000, prejudgement interest of $3,360 and a civil penalty of $50,000, it has not stop him from continuing his "Deals".
This blog will continue to provide updates on the bankruptcy, indictment and many other topics in the weeks and months ahead.

13 comments:

Anonymous said...

KGR continues to live by his proclaimed Christian ways..."you reap what you sow". Not what you had in mind Mr. Rogers?
"The truth will set you free"...how is that working for you AND YOUR FAMILY Mr. Rogers?
"Do unto others....."....really Mr. Rogers?

Mr. Rogers, I hope you like your new "neighborhood". There will be plenty of time to read the bible there.

Anonymous said...

This is shocking!!! I would like to get more information about this guy. How do it get more?

Anonymous said...

I find it fascinating that you won't post a comment that might be the least bit critical to you or all the people that made very poor investment decisions. Get some guts and post them all!

If this does get posted - to all of you who are so quick to judge - look in the mirror. Many of you were out promoting these "investments" just like Kelly was. If he goes to jail, maybe there should be a cell for you right next to him!

Anonymous said...

I would say poor character judgement,more than poor investment decisions. You see this creep had been "edified" to no end. I know people that wouldn't make a decision without his blessing. One guy even said he would consider Kelly's decisions to be "perfect".Does that sound like rational thinking? I don't think so...It sounds to me like people followed him like lemmings. This is what was promoted in Quixtar/Amway. Find people who trust you, edify your upline,and let your upline take advantage of your friends.

Am I bitter? YES. Am I pissed because this guy took me for significant money? Yes, But what I can't believe is that someone would look at this information, and make sound decision to protect him. Shame on you! He is a predator, and if you think so highly of him I suggest you invest your money with him. I hear he needs another addition on his house.

Anonymous said...

I find the last comment amazing. Here's a guy who is being sued by 6 or 7 groups and we should "Look in the Mirror"? Interesting point of view.

Please review the suit over "Falcon Energy-Buck Hamilton Series" or the Rio Grand Coal Mine or how about the arbitration award to investors for over $700,000? The SEC? Series C LLP suit? The indictment?

And thank you for the person attacks. The difference between us; we consolidate public records on to one site and report the facts contained in this public information, you make personal attacks and site wild opinions.

Is this Ron Emanuel? How do you know Kelly Rogers? The personal attacks fit the same stuff coming out of the White House these days.

Anonymous said...

None of this changes the fact that you invested "significant money" without looking into the validity of the vehicle. If it looks too good to be true, it probably is!

And if you think that you are only stating facts, you should review your prior posts. You have as many opinions as I do!

By the way, whenever I do invest in something, my first question is if this goes the wrong way, can I afford to lose it. Looks like not everyone asks that question?

Anonymous said...

My investment consideration in a Kelly deal did not include thought into embezzled funds. Could I afford to lose the money if business did not work out - yes. Did I want to contribute to Kelly's lavish lifestyle unknowingly - Absolutely not. I never begrudged Kelly and Carrie for having things I could not afford until I was on the unknowing end of giving them money to spend on unintended purposes. That is called theft pure and simple. How theft and investment end up in the same conversation is perverse.

Anonymous said...

Whether one can afford to loose the money or not is irrelevent to our fury of having been scammed by a "close" friend. This guy stayed at most of our houses and told us of his "christian" values. So please don't preach on facts you don't know. He is a predator and develops close bonds, so others can unknowingly support his and his wife's lifestyle. He never really promoted investments even though some of us did do our research to the best of our knowledge, he promoted a small scale ponzi scheme that left a lot of people hurting. First by the betrayal, next by the financial losses.

Anonymous said...

What is amazing is that never once has Kelly or Carrie ever made calls of apology to ask forgiveness. A lack of remorse and repentance is a dead giveaway of guilt. If you were innocent would there be numerous lawsuits coming from so many including the SEC? A real man and woman of righteousness would be reduced to great tears and anguish and would no doubt come begging to those offended so as not to hurt their witness before God. Kelly used to claim that everyone he had been involved with was paid off, that he was in good standing with all of his investors in the midst of this as reported by Amway officials when they were considering kicking him out. Kelly, you and Carrie are in delusion, are liars and thieves and you both should be behind bars. We all know that there's tens of thousands in Carrie's boob, ankle and chin jobs with our money; now even your own family knows it. Looking good was always more important to you two than character. The sad comment of those who invested with you is that we are guilty of allowing ourselves to be deceived. Yes, to be deceived is foolish. Kelly, production is not scamming off the top, misleading even your own father-in-law for huge sums of money, making world-record strings of lies. May your life be riddled with regret and punishment until you truly repent. You are a fool to continue neglecting truth. You have been a curse and a scourge to thousands instead of a blessing. But it is with deep regret I allowed myself to be lured by my own naivity to put trust in you. Yes, we who were lied to and cheated by you will look to walk more wisely. The heart of man is deceitful, who can know it.....with even our own heart, we must guard from being deceived. I shutter at the thought of my own life and all the time and money I allowed you to waste and string me along. Someday the truth will catch up with you and you will receive justice. You are not wanting to face reality. You are not willing to admit true guilt. Representing an investment with misleading statements represented as facts that are in fact lies, using the name of Christ, asking for our trust over and over, taking money from one person to pay off another who was threatening you, and the the absolute wreckless ways of futily trying to keep up with your many, many so-called ventures, stealing from a trust, using a credit card on the company account to pay off your pool contractor and on and on is undeniable. For you to attempt to make a marvelous defense of why these are all just not being seen in the right light is more attempts to disguise the truth. We can't disclose who we are because we don't have anything left to defend ourselves against a liar, a disrespecter of the law, one who knows how to manipulate and massage the legal system for his own means. For the many people who are suing you, for twisting the truth over and over without remorse or asking forgiveness, for the many people who can't fight you because they lost so much who put their trust in you, for all of these reasons and more...may your wander in your sleep and experience all you should for committing such crimes until you fall on your knees toward God and go to each one personally all over the country to beg forgiveness and return the stolen money. And if not may you be associated with the likes of your kind who will receive their due in time. You represent in deed a great shame, both of you, to so many. There is always forgiveness with true repentance from the righteous but to this day there is none from you, nor will there likely be any. May all of your "stuff" be "as gravel in your mouth". How merciful God is to have given you such children which goes to show how great and deep His grace is. We are not to treat you as anything but an infidel, telling all we can to stay away from you like a plague. You look daily for your next victims. We pray that you both, Kelly and Carrie, will indeed receive the justice you deserve.

Anonymous said...

I remember a conversation I had with Kelly after all this mess starting coming to light. Kelly said through all of this his walk with God had become stronger. Kelly, the price for salvation is free. There is no way your relationships with others should buy your place in eternity.

Anonymous said...

Kelly is a piece of crap that deserves to rot in jail. His faith in God was a sham to gain access to people that he normally would not have been able to approach. He has no guilt because he has no soul. He has earned his right to go straight to hell.

Anyone defending this satonic stooge is either an idiot or conspiring with him. I will forever regret placing trust in him. There should be no forgiveness for using God to do the work of the devil. He will burn...

Anonymous said...

It's about time!

On Friday, March 19th, the DA of Collin County finally announced a trial date for Kelly Gordon Rogers, set for July 19th, 2010. This announcement follows a multitude of delays, dating all the way back to October 29th, 2009.

One plausible reason for the delay was to give Mr. Rogers time to return the money. He either chose not to or he couldn’t come up with the money and now time has run out.

The pretrial conference is scheduled for July 14th, 2010. Pretrial conferences are conducted in criminal cases to decide matters that do not inquire into the defendant's guilt or innocence. Under rule 17.1 of the Federal Rules of Criminal Procedure, pretrial conferences for criminal cases may be conducted to promote a fair and expeditious trial. In practice, federal and courts use the pretrial conference in criminal cases to decide such preliminary matters as what evidence will be excluded from trial and what witnesses will be allowed to testify.

At issue will be Mr. Rogers involvement concerning the "Misapplication of fiduciary property" amounting to $435,355. The indictment details the transfer of money from Lionheart Energy to his personal account, QBiz, Rio Grande Coal, Pool Environments, Superior Soils, GS Investors, TNT Office Supply and Cash.

As an interesting side note, TNT Office Supply was sued in December of 2005 and shut down by the SEC in connection with the Travis Correll Ponzie Scheme. Mr. Rogers was invited to participate in the Travis Correll scheme by Harry Robinson "Robbie" Gowdey, a friend. Rogers was the trustee of Gowdey's personal trust and not only participated in the Travis Correll scheme but also solicited others to participate. According to the SEC (Top of page 12). Rogers went on to create Level Par, for which he was sued by the SEC. He eventually signed an agreed final judgment and paid a $150,000 fine.

At this point; “Fair and Expeditious Trail” has a nice ring to it.

Anonymous said...

To that guy who was critical of us investors who we're duped by Rogers. I think if you've kept up with the lawsuits and corruption surrounding Kelly Rogers, especially actions he took since we posted this story, time has proved us right...Rogers is a crook and continues screwing people.

You need to look no further than the Bradley Dean lawsuit to see this. Over and over, his pattern of behavior is unethical, illegal and pathetic to those "Lemmings" who we're told over and over how great this guys was.

Suddenly, his character was exposed for all to see after years of running ruff shot over all that trusted him with their investment dollars.

The tide went out and those swimming without a suit were exposed. The man behind the curtain was exposed.