KALISPELL, Mont. — A Montana businessman has pleaded not guilty to wire fraud and nine other federal charges after being charged with taking more than $2 million from people who believed they were investing in oil and gas leases.
The Flathead Beacon reports (bit.ly/2sV9BOO) John “Kevin” Moore of Bigfork entered his pleas during a hearing in Great Falls on June 12.
Prosecutors said Moore established two businesses, one to buy oil and gas leases and another to obtain and sell fine art. Prosecutors say he collected $2.7 million from 36 investors and made payments to earlier investors with money from later investors.
Records indicated he spent about $1.4 million himself.
Moore has previous criminal convictions for defrauding a person of $75,000 in a gold coin scheme and defrauding someone else in the sale of a painting.
Information from: Flathead Beacon, http://www.flatheadbeacon.com