Mar 9
2005

Stuart Rogers Cole, of Dallas, Texas, president of PetroQuest Development, Inc. was convicted on March 9, 2005 in the United States District Court, Northern District of Texas, Dallas Division, Case No. 3:03-CR-431-D(01), on four counts of securities fraud, five counts of mail fraud, one count of wire fraud, twenty-one counts of interstate transportation of money taken by fraud, and three counts of money laundering. Cole was sentenced on June 10, 2005 to 109 months imprisonment and ordered to pay $1,952,547.67 in restitution to the victims who had purchased oil and gas investments from PetroQuest Development, Inc.