Petro America - Kansas Corporation

[Old Hillbilly]

Petro America: guilty verdicts all around
Posted by Steve Vockrodt on Wed, May 15, 2013 at 2:14 PM

Petro America boosters are looking at jail time

petroamericacorp.com
Petro America boosters are looking at jail time

The jury in the Petro America case has returned guilty verdicts for all defendants in the Petro America trial.

The trial, which started April 17, went to the jury around noon Tuesday. Deliberation lasted nearly 24 hours.

Isreal Owen Hawkins was the CEO of a Kansas City company that held itself out as a natural-resources company which had generated $284 billion in revenues.

But, as prosecutors in federal court proved to a jury, the company was just a front for an affinity scam that took in hundreds, if not thousands, of investors who won't see a return.

Hawkins represented himself, thinking he could do a better job than a court-appointed counsel.

He now faces up to 79 years in prison.

Hawkins had his bond revoked and was immediately taken into custody following the verdicts.

A bond hearing is expected next week to determine if he can remain out on bond while awaiting sentencing.

Sentencing has not yet been scheduled.

Finally!
http://www.pitch.com/FastPitch/archives/2013/05/15/petro-america-guilty-verdicts-all-around