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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

USA v. Nealy


Case Number

3:10-cr-00126

Court

Texas Northern

Nature of Suit

Date Filed

May 5, 2010

Companies

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.