Oil-well driller gets 4 years in prison for investor scam

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Scam Alert

LEXINGTON, Ky. (AP) – An oil-well driller who worked in Kentucky and Tennessee has been sentenced to four years in prison for scamming investors.

The Lexington Herald-Leader reports 63-year-old Ronnie C. Rodgers, of Kentucky, was also sentenced Tuesday to a year of home detention. Rodgers was convicted last year of conspiring to commit fraud. He maintains his innocence.

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Authorities say Rodgers solicited well money from investors for areas he knew produced little oil, but that he promised would produce up to 200 barrels a day. Court documents say investor losses totaled more than $3.5 million. They say Rodgers was barred from selling Kentucky oil-well investments, but circumvented the ban by setting up other companies.

Rodgers’ attorney. C. Thomas Hectus, has indicated in court filings that Rodgers will appeal the conviction.