Ringleader of $10M Petro Investment Scam Gets 30 Years

Law360, New York (October 9, 2013, 5:40 PM EDT) -- The ringleader of a $10 million investment fraud scheme convicted in May of peddling shares of the bogus oil company Petro America Corp. to churchgoers and other investors was sentenced Tuesday to 30 years in prison by a Missouri federal judge.

Judge Brian C. Wimes of the Western District of Missouri sentenced Petro America’s President and CEO Isreal Owen Hawkins to 360 months in federal prison followed by three years of supervised release.

Hawkins was indicted in 2010 and convicted in May of conspiracy, securities fraud,...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Magistrate judge case number: 


Case Number

4:10-cr-00332

Court

Missouri Western

Nature of Suit

Date Filed

November 22, 2010

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.