Dallas Man Pleads Guilty in $27M Oil & Gas, Water Rights Scam
A Dallas man has pleaded guilty to defrauding investors out of more than $27 million in various oil and gas and water rights scams, announced U.S. Attorney for the Northern District of Texas Leigha Simonton.
Dennis James Rogers, II, 35, originally of Las Cruces, NM, was charged via felony information. On August 2024, he pleaded guilty to two counts of securities fraud.
“This defendant lined his own pockets at the expense of would-be investors, lying and cheating his way to a life of luxury,” said U.S. Attorney Leigha Simonton. “Today’s plea is a step towards justice for his victims.”
According to plea papers, in August 2019, Mr. Rogers successfully solicited $10 million from an investor, purportedly so that his company, Oregon Mountain Trading Company, could purchase fuel. The investor, identified in court documents by the initials J.I., handed over the funds after the pair agreed he would receive a fifty percent return on investment. Instead of purchasing fuel as promised, Mr. Rogers diverted the funds to a private jet service, a custom home builder, a law firm, an investment account, business entities, credit card companies, and other personal expenditures.
Mr. Rogers now faces up to ten years in federal prison. His sentencing hearing is set for December 18, 2024 before U.S. District Judge Ed Kinkeade.
The Federal Bureau of Investigation’s Dallas Field Office conducted the investigation. Assistant U.S. Attorney Marcus Busch is prosecuting the case.
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Key Facts
- State: Texas
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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