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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.