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Kansas Businessman Sentenced to Five Years Probation for Oil Lease Scam

Kansas Businessman Sentenced to Five Years Probation for Oil Lease Scam 150 150 Rex Securities Law

November 24, 2015- Wichita, Kansas

The Topeka Capital-Journal reports that Kansas businessman Paul Carageannis, 56, who had previously entered a plea of no contest to one count of felony fraud in connection with a $165,000 oil and gas lease scam, was ordered to serve five years probation and repay the victims.

“Protecting Kansas investors and promoting legitimate business endeavors requires holding fraudulent actors accountable for their actions,” said Josh Ney, Kansas securities commissioner.

Ney said Carageannis defrauded the victims between October 2008 and February 2009 by selling unregistered securities in an oil-and-gas lease.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

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