Kenneth Paul Lawrence of Rowlett was indicted March 31 for his role in the alleged sale of interests in a Hunt County biodiesel plant.
A Collin County grand jury indicted Lawrence for securities fraud, money laundering, theft, and engaging in organized criminal activity for his role in Greenway Energy Partners LLC.
The indictment alleges that Lawrence falsely told investors that their money would be used to build the plant when in fact investor funds were used for Lawrence's personal expenses; that their investment was protected by an insurance policy; and that their investment would earn a return of 33% a year over five years.
According to the indictment, Lawrence failed to disclose a 2004 Bankruptcy Court filing by him and his wife and a 2009 judgment against him in U.S. District Court in Arkansas.
Lawrence also filed to disclose a 2003 Agreed Cease and Desist Order with the Texas State Securities Board.