North Carolina Man Guilty in East Texas Fraud Scheme
SHERMAN, Texas – A 27-year-old Morganton, NC man has pleaded guilty in connection with an oil and gas scheme in the Eastern District of Texas, announced U.S. Attorney John M. Bales.
Justin Spearman pleaded guilty to wire fraud today before U.S. Magistrate Judge Christine A. Nowak.
According to information presented in court, in June 2015, Spearman devised and executed a scheme to defraud another individual by filing fraudulent Assignments of Overriding Royalty Interest (ORI)s in Greeley Colorado, and attempting to do so in Cheyenne, Wyoming, that actually belonged to other persons, one of which was the owner of a royalties company located in Collin County, Texas. Spearman was indicted by a federal grand jury on July 15, 2015.
Spearman faces up to 20 years in federal prison at sentencing. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing date has not been set.
This case is being investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Chris Eason.