Frisco attorney Kelly Gordon Rogers was convicted of first-degree felony theft for stealing $1.3 million from investors in fraudulent oil and gas schemes. He was sentenced to 20 years in state prison on May 28 and ordered to pay a $10,000 fine and $50,000 civil penalty.
Rogers, 55, stole money from investors who purchased royalty interests in non-existent oil and gas drilling projects, according to officials with the Texas State Securities Board. Officials described his victims as an Oklahoma oil and gas investor, two partners in a separate Oklahoma investment company, a neighbor in Frisco, and a longtime acquaintance.
Rogers used the investors’ money for personal expenses and to try to acquire interests in unrelated projects, such as a coal mine in West Virginia, officials said. He shuffled money around to try and keep the scam going, they said.
Rogers has faced other allegations of fraud over the past decade, officials said.
In 2007, the U.S. Securities and Exchange Commission filed a civil injunction against a group of financial companies and promoters that included Rogers who were offering fraudulent high-yield securities offerings.
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