Law360: Atty Charged With Swiping $3M From Oil Scheme Investors

Law360, New York (May 14, 2012, 9:50 PM ET) -- A Dallas-area attorney (Kelly G Rogers) has been indicted for allegedly stealing $2.8 million from investors in his oil and gas scheme and for failing to tell them he had been the target of suits accusing him of federal and state securities violations.

In a grand jury indictment filed May 1 in state court, Kelly G Rogers, of Frisco, Texas, is charged with theft, money laundering and securities fraud in connection with the investment shares in Falcon Energy LLC he sold to investors between August 2007 and October 2011.

Kelly G Rogers used the funds — which include a $950,000 investment from Oklahoma City-based oil land leasing company Basin Management Group Inc. — for other purposes and disposed of the money “in a manner that made recovery of said property by said owners unlikely,” according to the indictment.

He never told investors that he had been sued in February 2007 in Texas for alleged violations of federal and state securities laws, fraud, and breach of fiduciary duty in connection with his sales of investments in a Louisiana oil and gas venture, the indictment says.

Prosecutors say Kelly G Rogers also failed to disclose that he was one of the defendants named in a July 2007 U.S. Securities and Exchange Commission suit against Global Finance and Investments Inc. over a $9.9 million Ponzi scheme that preyed upon over 100 investors nationwide.

Kelly G Rogers was one of the alleged facilitators of Global Finance company head Charles Davis, according to the SEC. According to the suit, he created similar investment offerings and passed funds on to Davis.

Kelly G Rogers also solicited investors through Level Par Investments LLC, claiming to do trade in bank debentures, the government alleged.

Shortly after the suit was filed, Kelly G Rogers settled with the SEC by agreeing to disgorgement of $100,000 and a civil penalty of $50,000. He was also enjoined from future violations of federal securities law.

Representatives for prosecutors and for Kelly G Rogers could not immediately be reached for comment Monday.

Counsel information for Kelly G Rogers was not immediately available.

The case is Texas v. Rogers, case number 380-81033-2012, in the 219th District Court for Collin County, Texas.

--Editing by Elizabeth Bowen.

Kelly Rogers Arrested --Served with FIVE Warrents

KELLY G ROGERS ARRESTED--SERVED WITH FIVE INDICTMENTS!

Holy Cow. It's been SEVEN years since Kelly G. Rogers invested in his first illegal pyramid scheme called the "Program" or, as the SEC calls it,  the "Travis Correll" Ponzi Scheme. My how time flies.

But today, four squad cars rolled into his quiet Frisco, TX neighborhood and arrested him. They served FIVE Active warrants for his arrest including; 

• TWO Counts of Money Laundering
• TWO Counts of Theft of Stolen Property
• ONE Count of Securities Fraud

As you recall, it was spring of 2006 that Kelly G Rogers was sued by the SEC for his involvement in the Level Par Ponzi Scheme. He settled with the SEC by paying a minimal fine and signing some papers saying he'll never do it again. A simple slap on the wrist.

Once the SEC settlement was behind him, it was like the starter gun going off in a 400 meter track event because he was off to the races. In fact, it appears he never stopped doing what the SEC warned him not to do.

Check it out, if you search Kelly G Rogers and Carrie on the Collin County Court record Inquiry, the following activity comes up is:

• (6) Civil Lawsuits involving Carrie S. Rogers.
• (9) Civil lawsuits involving Kelly G. Rogers
• (1) indictment against Kelly G. Rogers.

It appears to me that Kelly G Rogers is a very crafty attorney who uses the law to bully, intimidate and manipulate others into giving him what he wants. And if he thinks he's been wronged? He'll sue you. But this time, it seems Kelly Rogers has messed with the wrong guys.

Introducing the DA's Office of Collin County, the State of Texas Security Commission and Dale Barron--attorney in the enforcement division of the State Securities Board.

The cooperation among these agencies resulted in Kelly G Rogers being arrested on May 4th, 2012. His wonderful mug shot.