Texas Man Gets 10 Years For Oil Investment Scheme

Law360, New York (October 13, 2010, 5:21 PM EDT) -- A Texas man has been sentenced to 10 years in prison for his role in a scheme to mislead more than 300 investors into backing $13.5 million in oil and gas drilling projects that were “speculative at best,” federal prosecutors said Wednesday.

Judge Jane J. Boyle of the U.S. District Court for the Northern District of Texas also ordered Tommy Eugene Barber to pay $13.2 million in restitution, the U.S. Attorney's Office for the Northern District of Texas said.

Barber, 33, pled guilty in December 2009...
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