Defendants Convicted In Petro America Stock Fraud

A federal jury convicted all five defendants in the Petro America Corp. stock fraud that began in Kansas City churches and grew to international proportions. Thousands of investors from across the nation, in Canada and as far away as England had put up more than $10 million since 2008. The defendants, who await sentencing, failed to tell investors that Missouri securities officials had ordered a halt to the sales, and falsely presented Petro America as the owner of gold mines and successful businesses.

Read more from the Kansas City Star

Leave a Reply