PLANO, Texas (AP) — Two Dallas men have been indicted for their roles in an alleged $485 million oil and gas investment fraud.
A federal grand jury Wednesday charged 46-year-old Brendan Coughlin and 47-year-old Henry Harrison with one count of conspiracy to commit mail fraud and 10 counts of mail fraud.
Prosecutors allege that the men, working on behalf of Provident Royalties, defrauded 7,700 investors.
They are accused of making false statements and omitting the fact that another company founder, Joseph Blimline, had previously been charged with securities fraud in Michigan.
Blimline was sentenced to 20 years in prison in May after pleading guilty to mail fraud.
Coughlin's attorney, David Finn, called the charges "absolutely an over-reach" by the government. He said he would mount a "vigorous" defense.
Harrison's attorney, Bill Ravkind, declined comment.
