Sean Patrick Riley of San Antonio was sentenced to 10 years deferred adjudication after pleading guilty to second-degree securities fraud in the 188th District Court of Gregg County.
Riley paid $5,000 in restitution up front in the plea deal and was ordered to pay an additional $48,500 in future monthly payments.
Riley was indicted for defrauding individuals who bought investments in a single-well oil drilling project.
In 2015, the Texas Securities Commissioner entered an Emergency Cease and Desist Order against Riley and Petro-San Resources LLC. Riley was the president and managing member of the company.
The Texas order was Riley's third regulatory sanction, following a 2012 cease and desist order by the Pennsylvania Securities Commission and a 2013 order by the Georgia Securities Commissioner, both for selling unregistered oil and gas interests to unqualified investors.