Oil and gas investors fell prey to what turned out to be a multi-million-dollar oil and gas investment fraud case in North Texas. The Justice Department reports that three executives – Brendan W. Coughlin of Dallas, Henry D. Harrison of Dallas and W. Mark Miller of Plano – pleaded guilty in the federal court at Plano.
Authorities said Coughlin and Harrison founded a business called Provident Royalties in Dallas. The two men took $2.3 million from investors in the fraud case.
According to authorities, Miller was chief financial officer and president. Miller helped conceal the crime, according to the Justice Department. He faces three years behind bars.
A federal prison term of up to five years awaits Coughlin and Harrison.
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