Authorities raid Carrollton business accused of running fradulent oil and gas scheme - The Dallas Morning News

The Texas State Securities Board and Carrollton police raided an investment business Thursday that’s accused of fraudulently selling oil and gas investments.

The state said it executed the search warrant at the Marsh Lane office of Premier Resources LLC under an emergency cease and desist order. The company was incorporated by Robert J. Mangiafico Jr. after he was paroled from prison in December 2017, according to the state.

Robert Joseph Mangiafico Jr.(Denton County Jail)

Mangiafico had served four years of a 40-year prison sentence for stealing $655,000 from elderly widows in the Dallas area by selling them fake annuities. He pleaded guilty in 2013 in Collin County to charges of theft and money laundering.

Premier Resources has been seeking investors in Texas to buy $200,000 stakes in an Oklahoma oil and gas well project, according to the state’s order. It promoted the investment as offering a return of 29% to 52%. The state said the securities weren’t registered in Texas.

Mangiafico has been prosecuted for at least six felonies in the past, which wasn’t disclosed to potential investors, according to the cease and desist order signed by state securites commissioner Travis Iles. His prior record includes multiple thefts, operating a boat under the influence and falsifying information to police officers.

State authorities said Mangiafico even managed Premier Resources from Denton County jail while serving time for a traffic violation.

Mangiafico could not be reached for comment.

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Authorities raid Carrollton business accused of running fradulent oil and gas scheme - The Dallas Morning News
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