Oil-well driller gets 4 years in prison for investor scam
LEXINGTON, Ky. (AP) — An oil-well driller who worked in Kentucky and Tennessee has been sentenced to four years in prison for scamming investors.
The Lexington Herald-Leader reports 63-year-old Ronnie C. Rodgers, of Kentucky, was also sentenced Tuesday to a year of home detention. Rodgers was convicted last year of conspiring to commit fraud. He maintains his innocence.
Authorities say Rodgers solicited well money from investors for areas he knew produced little oil, but that he promised would produce up to 200 barrels a day. Court documents say investor losses totaled more than $3.5 million. They say Rodgers was barred from selling Kentucky oil-well investments, but circumvented the ban by setting up other companies.
Rodgers’ attorney. C. Thomas Hectus, has indicated in court filings that Rodgers will appeal the conviction.
Information from: Lexington Herald-Leader, http://www.kentucky.com