Four Indicted For $7.2M Petro America Fraud

Law360, New York (November 23, 2010, 2:07 PM EST) -- A federal grand jury has handed down an indictment charging four individuals with duping investors into sinking $7.2 million into Petro America Corp., which purported to be a profitable oil trading company, though prosecutors claim it never had any assets.

The grand jury returned the 14-count indictment Monday in the U.S. District Court for the Western District of Missouri accusing Petro America President and CEO Isreal Owen Hawkins and his associates Teresa Brown, Johnny Heurung and Clarence Moore of participating in a conspiracy to commit securities...
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