11 More Businesses Frozen in Nelson Embezzlement Case - KCBD NewsChannel 11 Lubbock

12/1/05

11 More Businesses Frozen in Nelson Embezzlement Case

New developments in a $70-million embezzlement case. NewsChannel 11 has been following this story since November when a Snyder oil drilling company announced an internal investigation. Later, criminal charges were filed against Jonathan Nelson. Now, we learn even more assets have been frozen. NewsChannel 11's Jennifer Vogel explains what these new documents mean.

Nelson's attorney filed an injunction Thursday, waiving the hearing that was supposed to be held with the Securities and Exchange Commission on Friday. The conditions of the injunction are as follows; it continues to freeze assets, requires an accounting of revenues, expenses and assets. It prohibits the destruction and alteration of documents, and it continues with the appointed receiver to handle the assets. It also gives Nelson $2,500 for family expenses.

We've also learned that 11 more businesses have had their assets frozen in connection to this case. They include additional properties under the Chisum name, Arrow Acquisitions and Caprock Energy.

The federal court grand jury meets next Wednesday and sources have told us that Nelson's case could be on the list for the criminal charges that were brought against Nelson back in November.

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