Jul 29
2009

The Rockwall County Grand Jury on July 29 returned indictments against Wayne A. Rand, Douglas L. Williams, and Chad D. Taylor for securities fraud, theft and money laundering.

The indictments stem from the men's sale of interests in oil and gas drilling projects purported to be run by Rock Wall Oil Co. and Black Lake Energy Inc.

The indictments allege that Rand and Williams failed to tell investors they had used previous investor funds to buy personal vehicles, jewelry, boats, and other items.