Swindler Gets 2 Years In $53M Oil, Gas Securities Scam

Law360, New York (April 13, 2012, 9:17 PM EDT) -- A Texas federal judge on Friday sentenced a securities salesman for Western Pipeline Corp. to two years in prison for his role in a conspiracy to swindle investors in oil and gas development projects out of $53 million.

U.S. District Judge Barbara M.G. Lynn gave James Timothy Nealy 48 months in prison plus two years’ probation and ordered him to pay $53,250,535 in restitution for deceiving prospective WPC investors.

Nealy, who pled guilty in August to one count of conspiracy to commit securities fraud, allegedly lied...
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