Mar 13

Michael Ray Gee, also known as Michael Ray Wright, pleaded guilty on March 13, to charges of securities fraud and misapplication of fiduciary property in Dallas County Criminal Court. The court ordered deferred adjudication for Gee, placed him on probation for 10 years, fined him $3,500, and ordered him to pay $148,133 in restitution. Gee was accused of raising funds from investors for an oil and gas project but spent the money on personal and other unrelated expenses.