Enforcement Actions Criminal Civil

Michael Wallens Jr. of Plano was sentenced Nov. 9 to five years in federal prison for the sale of fraudulent promissory notes. Wallens in 2010 pleaded guilty to count of securities fraud in U.S. District Court in Dallas, as did his father, Michael Wallens Sr. The Wallenses and another indicted...

Fred Howard was indicted Nov. 1 in U.S. District Court in Dallas for federal securities fraud. Howard, a Florida resident at the time of the alleged crime, sold partnership interests in Secured Capital Trust Ltd. of Florida. According to the indictment, Howard bought shares in the now-delisted...

The U.S. Commodity Futures Trading Commission (CFTC) Brothers sued brothers Rodney Wagner and Roger Wagner of Grand Prairie for operating a fraudulent foreign exchange (forex) Ponzi scheme. The civil suit, filed Nov. 1 in U.S. District Court in Dallas, alleges the brothers raised $5.5 million from...

William Paul Hudson of Plano was indicted Oct. 13 on charges of engaging in organized criminal activity, money laundering, theft, and securities fraud in connection with the proposed development of oil and gas wells in Gonzales County, east of San Antonio. The indictment was issued by a Collin...

Carl Tinsley Ratner of Trophy Club, northwest of Dallas, was sentenced to 10 years in state prison on Sept. 28 after he pleaded guilty to charges stemming from his sale of fraudulent oil and gas interests. Ratner was one of five men indicted for their participation in Mack Diamond Energy LLC, a...

John F. Langford of Amarillo was sentenced to 15 years in state prison after pleading guilty in August to 15 counts of securities fraud and related charges. Langford was indicted in 2009 for selling fraudulent and unregistered products such as "private annuities"and promissory notes. Langford, a...

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...

William Anthony "Tony"Rand and two of his sons – Gregory K. Rand and William N. Rand – were sentenced on July 27 to federal prison terms for defrauding investors in an oil and gas scheme. In U.S. District Court in Dallas, Tony Rand was sentenced to 5 years, 5 months; Gregory Rand and William Rand...

John F. Langford of Amarillo on July 26 pleaded guilty to 15 counts of securities fraud and other charges and admitted his fraud cost investors more than $5 million. Langford was indicted in 2009 for selling fraudulent and unregistered products such as "private annuities"and promissory notes. Many...

Ramiro Lugo Amaya of Corpus Christi was sentenced to 10 years in state prison for selling unregistered securities, but received a suspended sentence. Amaya was placed on 10 years' probation and ordered to pay $157,345 in restitution. The Order of Deferred Adjudication was entered July 25. Amaya sold...