By KERA News & Wire Services
Dallas, TX –
Federal regulators have frozen the assets of a company accused of running a $485 million Ponzi scheme centered on the oil and gas industry.
In a statement issued Tuesday, the Securities and Exchange Commission says the scheme was orchestrated by three Dallas businessmen through a company called Provident Royalties LLC.
The Delaware company, which had its primary office in Dallas, didn't immediately respond to a phone message Tuesday.
The SEC alleges that from at least June 2006 through January 2009, Provident made fraudulent securities offerings involving oil and gas assets to more than 7,700 investors. According to the SEC's complaint filed in a federal district court in Texas, Provident falsely promised yearly returns of up to 18 percent.
Alberto Gonzalez to teach at Texas Tech
Alberto Gonzalez, who resigned as U.S. attorney general two years ago, is coming to Texas Tech this fall to teach political science. The Austin American-Statesman reported Gonzalez's plans to teach at Tech on its Web site Tuesday.
Several school officials declined to comment on the story. But a senior business assistant in Tech's political science department, Dora Rodriguez, told the newspaper that Gonzalez will teach a "special topics" course on contemporary issues in the executive branch.
Gonzalez served as Gov. George W. Bush's personal attorney, then was Texas secretary of state and a Texas Supreme Court justice before joining Bush in Washington.
Drought dire in parts of Texas
Parts of Texas are beginning to look like they did in the 1950s.
Nationally, Central and South Texas were alone Tuesday in experiencing the two most severe stages of drought - extreme and exceptional. About 11 percent of the state is in those categories as of June 30, up from 8 percent the previous week.
Burn bans are in effect in 139 of the state's 254 counties, and forecasters don't see much chance of relief ahead. Dallas, San Antonio, Austin and Houston are baking, and water restrictions never before used in the Alamo City could be days away.
Usually, it's West Texas that's hot and parched. But much of the region is faring well compared to parts of the state south of a line from Del Rio to Waco to Houston
Some Texans at Jackson memorial in LA
Getting tickets online for the Michael Jackson public memorial service and reaching Los Angeles proved a challenge to some Texans.
But Melissa Richardson of Tyler and her mother, Jackie, did it.
Richardson was among the more than 1.6 million people registered to try for tickets for Tuesday's service. A total of 8,750 people were chosen to receive two tickets each for the service for the 50-year-old mega-entertainer, who died last month.
Richardson told KLTV-TV that she and her mother were "going crazy" trying to get a round-trip flight, costing about $1,500 for the pair.
They flew to Los Angeles and reached Dodger Stadium in time to present a voucher and claim their tickets Monday night. Richardson said to be part of the public memorial service is "history in the making."
Irish authorities probe barring of 3 Plano men
Irish detectives are investigating the reasons why three Plano men were denied entry to Ireland last week.
The Dallas Morning News reports that 21-year-old Colin Zwirko and two friends were told to return to New York when they landed Friday. Zwirko tells the newspaper that they were barred from Ireland because they couldn't provide an address for where they planned to stay in Irish capital, Dublin.
They also couldn't produce bank statements to demonstrate they could afford to travel.
Zwirko said he and his friends were planning a backpacking trek across western Europe.
The newspaper reports officials at the Irish embassy in Washington have apologized for the incident.