Sunday, September 23, 2012
Oil Executive Convicted of Oil and Gas Investment Fraud: John Arthur Apple, Jr. Guilty Plea Press Release
OIL EXECUTIVE CONVICTED OF OIL AND GAS INVESTMENT FRAUD
Northern District of Texas Successfully Prosecuted Numerous Individuals
for Fraud in Connection with Oil and Gas Investments in Recent Years
DALLAS — This week, another oil and gas company executive, John Arthur Apple, Jr., 53, of Lewisville, Texas, pleaded guilty to felony offenses stemming from his operation of Western Pipeline Corporation. He is the fifth defendant to be convicted in that investment fraud case. Apple pleaded guilty to one count of conspiracy to commit securities fraud and one count of securities fraud and faces a maximum statutory sentence of five years in prison and a $250,000 fine on each count. Sentencing is set for April 16, 2012, before U.S. District Judge Sam A. Lindsay.
In making today’s announcement, U.S. Attorney Sarah R. Saldaña of the Northern District of Texas, said, “During roughly the last two years, this office has mounted an aggressive campaign against investment fraud in the oil and gas business, which has led to the conviction of 19 individuals on felony charges of fraud and conspiracy. Prison sentences for the eleven defendants who have been sentenced total nearly 70 years. The remaining defendants awaiting sentencing are each facing five to 25-year prison sentences.” Saldaña continued, “This office will continue to work side-by-side with our law enforcement partners to prosecute those fraudsters who put their greed above the law.”
John Arthur Apple, Jr. Guilty Plea Press Release