From the Texas State Securities Board Bulletin: Now Accused of Oil and Gas Fraud, Attorney's Long List of Legal Woes Gets Longer .
Besides two counts of aggregated theft, Kelly G Rogers was charged with two counts of money laundering and one count of securities fraud.
The State Securities Board investigated Rogers and Dale Barron, an enforcement attorney for the agency, is serving as a special prosecutor for Collin County in the case. Kelly G Rogers has left a trail of lawsuits from prior business dealings, but according to the indictment he disclosed none of them to his investors, as required by law.
Among the non-disclosures: a 2007 lawsuit by the SEC that resulted in a $153,000 settlement; a Dallas County state district court suit alleging he violated federal and state securities laws in connection with the sale of oil and gas interests in Louisiana; a 2009 Bankruptcy Court filing in which he listed debts of $2 million; and previous misappropriation of funds from investors in one of his ventures, Falcon Energy LLC.
Kelly G Rogers is also scheduled for trial in Collin County state district court in June on an earlier indictment; the charge is misapplication of fiduciary property in yet another energy venture. Barron will also be the special prosecutor in that case.
Here's a nice little summary in the Courthouse News Service.
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