A Harris County grand jury indicted Daniel Christopher Walsh July 17 on first degree felony charges of securities fraud, money laundering, and theft in connection with the sale of investments in oil wells that were supposed to be drilled in Galveston County.
The indictments were handed down five days after Walsh was sentenced to 18 years in state prison after pleading guilty to money laundering in an oil and gas fraud case in Wichita County. Walsh, the CEO of Houston-based Western Capital Inc., had been indicted on charges of theft, money laundering, and securing execution of a document by deception. He was indicted on the theft charge for stealing $492,090 from 12 investors who purchased investments in a project that was supposed to drill and test two wells in the High Island section of eastern Galveston County. The wells were named Sun Fee #1 and #2.
The Harris County indictment alleges Walsh defrauded investors in the Sun Fee wells, but also other drilling projects. The indictment alleges Walsh took in at least $600,000 from investors.