EKB News

A former Louisville oil and gas executive, 59 year old David G. Rose, has pleaded guilty to one count of tax evasion and 21 counts of defrauding investors out of millions. Prosecutors say he swindled 60 victims by promising to invest in oil and gas exploration, but, instead, used the money on himself. Rose used a company called en Terra Energy LLC, which claimed it had deals with major oil companies including Texaco and Citgo. Rose paid $1 million toward a $2.9 million restitution and agreed to a 52 month prison sentence. A Bowling Green grand jury charged Rose with failing to pay taxes in 2001. Sentencing is set for November 16th.