Oil Exec Denied New Trial In Exploration Fraud Suit

Law360, New York (October 12, 2009, 3:34 PM EDT) -- An oil company executive hit with $5.47 million in damages for his role in an alleged scheme to take investment money for a nonexistent exploration project will not get a new trial, a federal judge has said.

The multimillion-dollar bench trial decision against Ash Petroleum Inc. President Gene H. Irwin will stand, Judge Sidney Fitzwater of the U.S. District Court for the Northern District of Texas said in an order issued Friday.

In September, Judge Fitzwater found Irwin liable for fraud for allegedly guaranteeing investor L&C...
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