William Paul Hudson of Plano was indicted Oct. 13 on charges of engaging in organized criminal activity, money laundering, theft, and securities fraud in connection with the proposed development of oil and gas wells in Gonzales County, east of San Antonio.
The indictment was issued by a Collin County grand jury.
Hudson and an associate, Theodore Koenen, who was indicted for theft, allegedly raised more than $500,000 from investors to re-enter previously drilled wells in Gonzales County.
Hudson allegedly spent investors' money on personal expenses. He also failed to disclose his legal history to investors, which includes two sanctions by state securities regulators and three bankruptcy filings.