Mar 30
2011

Jack Russell Gilvin of Amarillo pleaded guilty March 30 to one charge of selling unregistered securities in connection with interests in oil and gas projects in Ohio.

The case was brought by the Potter County District Attorney's Office, based on an investigation by the State Securities Board.

Even before his recent plea in Potter County state district court, Gilvin was on probation, having pleaded guilty in 2007 to charges of aggravated assault and burglary of a habitation. In addition to pleading guilty to the unregistered securities charge, Gilvin acknowledged violating the terms of his probation.

Gilvin was sentenced to nine years for violating his probation and sentenced to two years on the securities charge; the sentences will run concurrently.

The State Securities Board previously entered an Emergency Cease and Desist Order against Gilvin and a separate company, JR Gilvin Investments LLC. The Order stems from an undrilled well on the same lease in Ohio.

According to the Order, Gilvin used investors' money for personal expenses, including the purchases of a 1996 Corvette and a 1969 Camaro.