Friday, March 24, 2023 | Back issues
Courthouse News Service Courthouse News Service

Securities Recidivist Took $40 Million|In Ponzi Scheme, Oklahoma Says

OKLAHOMA CITY (CN) - Brian Fox and his company Powder River Petroleum International defrauded investors of $40 million in a Ponzi scheme, the State of Oklahoma claims in Oklahoma County Court.

Fox lives in Alberta, Canada. The Alberta Securities commission fined and enjoined him for a securities scam in 2000, Oklahoma says.

In this alleged scam, Fox promised investors 9% annual returns, the Oklahoma Department of Securities says.

Read the Top 8

Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.