Mar 27

On March 27, 2002, Jesse Aguilar of Round Rock, Texas, was sentenced by United States District Court Judge Sam Sparks to 51 months in federal prison to be followed by three years supervised release and restitution of over $1.2 million dollars in connection with his conviction for conspiracy to commit securities, wire and mail fraud through mass marketing upon vulnerable victims. Mr. Aguilar operated a business called Nortex Exploration through which he sold oil and gas related securities to the public. Mr. Aguilar engaged in fraud in connection with the sales, by selling interests in fictitious leases, using funds to be used to drill wells for his personal purposes and fabricating well production records. Mr. Aguilar was remanded to federal prison to commence his sentence. This was a cooperative investigation and the Securities Board wishes to acknowledge the excellent efforts of the Texas Railroad Commission, the FBI-Austin, the Austin Office of the United States Attorney and the Arizona Corporation Commission, Securities Division.