The Texas State Securities Board just announced that a long prison sentence was handed down to Frisco, Texas attorney Kelly Gordon Rogers for first degree felony theft.
Rogers was found guilty of stealing $1.3 million from investors in fraudulent oil and gas schemes. On May 28, Rogers was sentenced to 20 years in state prison and ordered to pay a $10,000 fine.
Victims included an Oklahoma oil and gas investor, two partners in a separate Oklahoma investment company, a neighbor in Frisco, and a longtime acquaintance. Much of the money Rogers got from investors went to pay for his personal expenses and to try to acquire interests in unrelated projects, including a coal mine in West Virginia.
Rogers has faced other allegations of fraud in the past. In 2007, the U.S. Securities and Exchange Commission filed a civil injunction against a group of financial companies and promoters including Rogers, who were offering fraudulent high-yield securities.