Kentucky Investment & Securities Lawyers

Oil and Gas Schemers Convicted of Defrauding Investors Out of Millions

Wednesday, 11 May 2011 10:57

Defendants used investors’ money for personal purchases

LEXINGTON, Kentucky (DOJ) — A Lexington attorney and a Campbellsville businessman were convicted today by a Lexington jury for their roles in devising a scheme to defraud hundreds of investors in oil and gas drilling programs out of $33 million.

The jury convicted Lexington attorney Bryan S. Coffman, 47, and Gary Moss Milby, 57, of Campbellsville, Kentucky of 8 counts each of mail fraud and 9 nine counts each of wire fraud. The jury also convicted Coffman of two securities fraud counts and Milby of one securities fraud count. In addition, Coffman was found guilty on 10 counts of money laundering and one money laundering conspiracy count. He was acquitted on two of money laundering counts.

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Friday, 01 January 2010 17:08

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