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Former CEO fined in Ponzi scheme

The former CEO of an oil and natural gas company must pay nearly $500,000 in fines and forfeitures.
FROM STAFF REPORTS Published: December 1, 2012

Fox, who declined to comment, filed paperwork Friday asking the judge to reconsider her ruling, claiming he was the victim of a “slander campaign” by Oklahoma City attorney Bruce Day after an unsuccessful takeover attempt by a former Powder River board member.

Day, who was appointed as receiver of Powder River's assets, said he was pleased that the judge levied a fine against Fox in the securities case, but he would still like to see him prosecuted for his actions.

Day said none of Powder River's investors has been repaid.

The company did not have any significant assets when he got involved with the case in 2008, Day said. There was not even enough money to pay severance to Powder River's employees, including Fox's daughter, when they were let go.