Aug 22

William June Fletcher, Jr. of Plano, Texas, pled guilty on August 22, 2006, in the 210th Judicial District Court in Collin County, Texas, Cause No. 219-81812-06, to charges of securities fraud. Fletcher received a 10 year suspended sentence, and agreed to pay restitution in the amount of $241,161 and a fine of $10,000. Fletcher, doing business as Texas Oil Equities, Inc., sold working interests in oil and gas leases located in Goliad County, Texas, at times when he did not own the leases.