2 plead guilty to fraud in $30M Central Texas oil, gas scam
April 13, 2017
AUSTIN, Texas (AP) — Prosecutors say a Central Texas lawyer and his business associate have pleaded guilty in a $30 million scam involving bogus oil and gas investments.
Robert Allen Helms and Janniece S. Kaelin, both of Austin, each pleaded guilty Tuesday to securities fraud and conspiracy to commit securities fraud and mail fraud.
Helms and Kaelin face up to 10-year federal prison terms and making restitution over what investigators have called a Ponzi scheme. Authorities say clients were defrauded between 2010 and 2013, with funds meant for energy-related investments instead used for p...