In Fraud Case, ND Oilfield Exec Ordered To Pay Back $400 Million
Also, he's going to federal prison for three years. *big whoop
Source: hot975fm.com
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North Dakota Oil Exec Gets 3-Year Sentence for Fraud Scheme
He was ordered to pay back $406 million.
Source: manufacturing.net
North Dakota oil exec gets 3-year sentence for fraud scheme
A former North Dakota oilfield executive whose false claims about his company’s value resulted in more than $886 million in shareholder losses has been sentenced to three years in federal prison and ordered to pay back $406 million
Source: go.com
Former exec of bankrupt Poseidon Concepts jailed three years for fraud
Joseph A. Kostelecky, Poseidon's former top U.S. executive, was also ordered to pay about $406.2 million in restitution to investors
Source: calgaryherald.com
Dickinson man faces 40 years in prison for $886 million securities fraud scheme
Joseph A. Kostelecky, formerly the executive vice president of U.S. operations at a publicly traded Canadian oil-services company, pleaded guilty Wednesday to perpetrating a scheme to fraudulently inflate the company’s reported revenue that resulted in shareholder losses in excess of $886 million.
Source: jamestownsun.com