FRANKFORT, Ky. (August 10th, 2018) – A Federal jury sitting in Frankfort has convicted Ronnie C. Rodgers, 62, of Columbia, Ky., of conspiracy to commit mail fraud, wire fraud and securities fraud, arising from the sale of interests in oil and gas exploration ventures in South Central Kentucky, between 2007 and 2017. It’s being alleged that Rodgers, along with his brother, Ricky Rodgers, sold interests in oil and gas programs in Adair, Clinton, Pulaski, and Warren Counties, and various sites in Tennessee, utilizing false and misleading representations about the chances of hitting productive oil wells, the length of time the wells would produce, and the amount of profit the investors could expect. The investments, totaling around $10 million, were sold under the names Rick-Rod Oil, Big South Resources, R&R Plus, and Hydro & Green Global Energy.
United States District Judge Gregory F. Van Tatenhove scheduled sentencing for December 5, 2018, in Frankfort. Rodgers faces a maximum sentence of five years in prison, on the single count of conspiracy.
The case was investigated by the United States Postal Inspection Service and the Kentucky Department of Financial Institutions, Division of Securities. The United States was represented by Assistant U.S. Attorneys Ken Taylor and Neeraj Gupta.