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05/16/2012

Frisco attorney accused - again - of ripping off investors

Pop quiz: What would you call an attorney whose investment schemes have led to a fine by a federal agency for defrauding investors and criminal indictments for money laundering, aggravated theft and securities fraud?   

State barThe State Bar of Texas calls him an attorney with no public disciplinary record. Need a lawyer and use its website, attorney Kelly Gordon Rogers of Frisco would pass the smell test.

But federal records show that Rogers was sued by the SEC in 2007, accused of fraudulent offerings in an investment scheme. The federal agency says Rogers told investors they could earn returns of 25 percent a week in a company called Level Par. But the SEC called the investment programs a sham and said the money went for such things as the personal use of the scheme's promoters. That case was settled when the commission fined him $50,000 and ordered him to pay back $100,000.

That wasn't his only venture. According to the Texas State Securities Board, Rogers also was accused of misappropriation of investor funds from a venture called Falcon Energy.

Now, the attorney has been indicted in Collin County for stealing $2.8 million from investors in two oil and gas schemes, the TSSB says. He faces two counts of money laundering, two counts of aggravated theft and one court of securities fraud. Rogers is also scheduled for trial in June related to yet another energy venture, where he is accused of misappropriation of fiduciary property.

For an investor's view on other legal actions regarding the Texas attorney, check out the blog dedicated to him. 

 

 

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Money investment is risk event,so it is needed to be sure about the organization,rules and condition etc.Some cases we have to make inquiry detail features of the company is very important before the investment.

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