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$30 million Oil Scam in Texas

Then there are the two men in Austin, Texas who recently pleaded guilty in a $30 million scam involving bogus oil and gas investments.

One’s an attorney. The other is his business associate. Robert Helms and Janniece Kaelin ran a Ponzi scheme, defrauding clients between 2010 and 2013, using energy-related investments for their personal expenses.

They ran the scheme through a company called Vendetta Royalty Partners. Helms and Kaelin face up to 10 years in federal prison and likely restitution.