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Texas Man Cops To $485M Oil, Gas Ponzi Scheme

By Erin Fuchs (September 1, 2010, 3:50 PM EDT) -- The co-founder of Provident Royalties LLC has pled guilty to conspiracy in connection with a $485 million scheme to defraud 7,700 investors, in the first case to be prosecuted against an individual involved with the defunct Texas energy investment firm....

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