Aug 3
2011

Donald Joseph Dean of Tyler pleaded guilty to selling unregistered securities on Aug. 3 and was placed on two years deferred adjudication.

Dean paid $90,000 to an investor in Mack Diamond Energy, a fraudulent energy company in Wolfe City.

Dean was one of five men indicted for their role in the company. The scheme, which raised $2.6 million from about 40 investors, involved the misuse of investor funds and lying to investors about Mack Diamond's earlier failed drilling projects.