Sep 8
2005

Micheal Ray Gee, aka Micheal Ray Wright of Keller, Texas, was indicted on September 8, 2005 in the 203rd Judicial District Court in Dallas County, Texas, Cause No. F-05-01302, and Cause No. F-05-01304 for securities fraud and misapplication of property by a fiduciary. Gee is charged with raising more than $200,000 for the drilling of Gassiot-Mae #1 Oil and Gas Well. He allegedly never acquired a lease from the landowner, failed to drill the well, did not return the funds to the investors, and spent the investors' funds on personal and non-related business expenses and cash withdrawals