Texas Oilman Ordered To Pay $4.8M Over Investment Scheme

Law360, New York (March 9, 2012, 5:55 PM EST) -- A federal judge on Wednesday leveled a $4.8 million judgment against a Texas oilman allegedly responsible for a multimillion-dollar fraud scheme that promised lofty returns for investing in oil drilling projects in Texas and New Mexico.

The court ordered George W. Harris to pay a $2.37 million civil penalty, $333, 767 in prejudgment interest and disgorge more than $2 million, doling out punishment in a case originally brought by the SEC in September 2009.

Harris and his co-defendants, using his Texas-based company, Giant Operating LLC, raised...
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