U.S. Department
of Justice
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FOR IMMEDIATE RELEASE |
MEDIA INQUIRIES: KATHY COLVIN |
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THURSDAY, OCTOBER 13, 2011
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FARMERS BRANCH, TEXAS, MAN IS SENTENCED TO 51 MONTHS IN FEDERAL DALLAS — Today U.S. District Judge Jane J. Boyle sentenced Tracy Lee Pool, 43, of Farmers Branch, Texas, to 51 months in federal prison for his role in an oil and gas investment fraud scheme, announced U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. Judge Boyle will schedule a separate hearing in the near future to determine Pool’s restitution obligations and announce a date on which Pool must surrender to the U.S. Bureau of Prisons for service of his sentence. According to documents filed in the case, Pool used businesses such as Reunion Resources, LLC, Triad Royalties and Triad Royalty Management to offer and sell investments in oil and gas ventures from 2004 to 2007. Pool repeatedly represented to investors that he and his associates/affiliates would use the invested funds to generate profits by developing oil and gas prospects. But Pool did not intend to use the invested funds for that purpose. Instead he routinely misappropriated and misdirected a substantial part of the invested funds by using them to pay his personal expenses. In addition, he also routinely used invested funds to make payments to investors, which he falsely represented were returns from the development of oil and gas prospects. In some instances, Pool obtained money by offering and purporting to sell royalties and other mineral interests that he did not own. The FBI was in charge of the investigation; Assistant U.S. Attorneys Alan M. Buie and Joseph Revesz prosecuted. ### |