Aspen Exploration Owners Plead Guilty In $56M Fraud

Law360, New York (January 27, 2011, 3:28 PM EST) -- The patriarch and two sons of the Texas family who controls oil and gas company Aspen Exploration Inc. have pled guilty to securities fraud charges, admitting that the clan conspired to divert investors' prospecting money into their pockets.

William Anthony “Tony” Rand, 69, and his sons Gregory “Greg” Keith Rand, 46, and William Nicholas Rand, 41, pled guilty to a bevy of securities fraud and conspiracy charges Wednesday in the U.S. District Court for the Northern District of Texas. Prosecutors said the family tried to raise...
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