The recent unsealing of an indictment shines a little more light on the charges concerning a suspected Ponzi scheme. A suspect accused of committing wire fraud is also facing additional charges of three counts of identity theft. While he faces criminal charges in Texas, he is also the defendant of a civil suit in another state.
Police claim that at least one person in Texas was a victim of an investment fraud scheme that could have netted millions. The man accused of engaging in the fraudulent behavior allegedly attempted to sell royalties and investments from the oil and gas industry that he did not actually own. Some of the assignments that he supposedly tried to sell were actually owned by people in other states. He apparently also claimed that he had successfully invested in multiple businesses in the oil industry.