Ex-Patterson-UTI Exec Sentenced To 25 Years In Prison

Law360, New York (October 11, 2006, 12:00 AM EDT) -- A former chief financial officer who confessed to embezzling millions of dollars from oil and gas drilling company Patterson-UTI Energy Inc. was slapped with a 25-year prison sentence Tuesday.

U.S. prosecutors claimed that Jonathan D. Nelson used a fake invoice scheme to swindle the company out of $77 million, which he used to go on a spending spree. He allegedly splurged on an airplane, an airfield, a cattle ranch, homes, a truck stop and vehicles.

In addition to the sentence, Nelson was fined $200,000 and ordered...
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