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.

Citi Bank sues Carrie Rogers

CITI BANK SUES CARRIE ROGERS

Carrie S. Rogers, wife of indicted Kelly G Rogers, has been sued--again. The Rogers are residents of Frisco Texas. Evicted from their home due to Chapter 7 bankruptcy, they now live kiddie corner from their old partner, Richard Weyand.

The lawsuit; Citibank ( South Dakota) NA Vs. Carrie S Rogers, case 199-04132-2010, filed on 10/05/2010. Case involves Consumer and Commercial Debt. Defending Carrie Rogers is Michael A Moss is at the Office of The General Counsel, 1301 Young Street, Suite A702, Dallas, TX 75202 214-767-6943.

On December 10th, 2010 the order granting a new Trial REOPEN - OCA was posted to the case history. We don't have a copy of the specific lawsuit but will provide details when we get a copy.

Kelly Rogers' Trial Postponed until April 2011

The jury trial of Kelly G Rogers has been postponed until April 18th, 2011 according to the Collin County website. The pretrial conference is now scheduled to take place on April 13th.

Apparently a pecking order exists within the DA's office of who gets priority to stand trial. The bad guys are bucketed into two groups; those in jail awaiting trial and those out on bail. Unfortunately, Mr. Rogers is not in jail and therefore has been bumped...for now.

According to sources, Kelly G. Rogers is now at the top of the list of those out on bail and stands a 80-90% chance of going to trial on the 13th of April. The prosecutor assigned to the case is Coleman Sylvan graduated in 2001 with a Bachelor of Arts in Political Science from Furman University. He received his law degree from Southern Methodist Dedman School of Law. While attending law school, he volunteered at the Dallas Public Defenders Family Division. He began his career with the Collin County District Attorney's Office in September 2005 as a misdemeanor prosecutor.


To review; Kelly Rogers was indicted, booked and freed on bail over allegation that he misappropriated corporate funds and purchased personal items such as swimming pools and other. Additionally, Rogers has been sued by numerous groups who invested in various schemes he organized, he's been sued by the SEC for violating security and exchange law and has recently filed and was granted bankruptcy protection. Kelly and Carrie Rogers have also been foreclosed upon by the Bank of Texas and are losing their home at 8 Riva Ridge in Frisco, Texas.

We will continue to post any factual information as it becomes public. We also welcome any comments from former investors or participants in any of Kelly's business schemes or experiences from his Amway business.