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Kan., Texas ministers charged in oil scam

Kan., Texas ministers charged in oil scam

June 15th, 2011 in News

KANSAS CITY, Mo. (AP) - Two ministers from Kansas and Texas have pleaded guilty to federal charges related to a securities fraud scheme.

The U.S. Attorney for the Western District of Missouri said in a press release Tuesday that the Rev. Edward D. Halliburton, of Kansas City, Kan., and Joseph Harrell, of Waco, Texas, pleaded guilty to conspiracy to commit securities fraud and wire fraud. The office said the men admitted to conspiring with others to obtain money through the fraudulent sale of Petro America stock by lying about the company's value.

Prosecutors said Halliburton and Harrell were also not licensed to sell stock

The office said Halliburton and Harrell were associated with Ministers Alliance, a group of about 15 ministers, and promoted Petro America to investors.

Sentencing has not been scheduled.