William June Fletcher Jr. of Plano was sentenced to 25 years in state prison on June 20 for stealing money from investors in his oil and gas scheme.
The sentence in Collin County state district court resulted from Fletcher's convictions on charges of theft and securities fraud.
Fletcher raised nearly $600,000 from investors before being indicted, but he used much of that money to pay expenses unrelated to the oil and gas business.
Fletcher also failed to tell his investors that he pleaded guilty to securities fraud in 2006 in connection the sale of oil and gas interests. He received a suspended sentence and was ordered to pay nearly $250,000 in restitution.