Jody Nelson Indicted by Federal Grand Jury - KCBD NewsChannel 11 Lubbock

12/7/05

Jody Nelson Indicted by Federal Grand Jury

Late Wednesday afternoon Jonathan "Jody" Nelson was indicted by the federal grand jury. Nelson is accused of embezzling $70-million from an oil-company in Snyder. Criminal charges were filed last month, and just hours ago, the grand jury found enough evidence to take him to trial on those charges. NewsChannel 11's Jennifer Vogel has the latest.

The federal grand jury decided to indict Nelson on two different counts. This document states two different schemes to defraud and falsely reporting federal documents. One scheme mentioned is a bogus invoice scheme where Nelson allegedly embezzled $70-million from Patterson UTI and transferred it to his own company XIT Land and Energy without trading services.

The other scheme mentioned is a wire fraud scheme that says Nelson took over $2-million from Patterson and bought a King-Air Airplane.

There are two counts on the indictment. The first, willful certification of false financial report and aiding and abetting, could land Nelson in jail for 20 years with a $5-million fine. The second count is wire fraud and aiding and abetting. That comes with a $1-million fine and up to 30 years in prison.

Courts & Crime
Take a look at the Courts & Crime news from around Lubbock.

  • Local News on KCBD.comNewsMore>>

  • Dam failing as scope of Puerto Rico's disaster becomes clear

    Dam failing as scope of Puerto Rico's disaster becomes clear

    Friday, September 22 2017 4:06 AM EDT2017-09-22 08:06:51 GMT
    Saturday, September 23 2017 12:30 PM EDT2017-09-23 16:30:59 GMT

    They eye of Hurricane Maria is nearing the Turks and Caicos early Friday as Puerto Rico tries to recover from the storm's devastation.

    They eye of Hurricane Maria is nearing the Turks and Caicos early Friday as Puerto Rico tries to recover from the storm's devastation.

  • Trump trying to turn around GOP holdouts on health bill

    Trump trying to turn around GOP holdouts on health bill

    Saturday, September 23 2017 12:46 AM EDT2017-09-23 04:46:21 GMT
    Saturday, September 23 2017 12:29 PM EDT2017-09-23 16:29:21 GMT

    McCain opposes latest GOP health care bill, drawing ire from Trump and possibly dealing death blow to repeal-and-replace effort.

    McCain opposes latest GOP health care bill, drawing ire from Trump and possibly dealing death blow to repeal-and-replace effort.

  • Trump tells NBA star Curry that White House visit is off

    Trump tells NBA star Curry that White House visit is off

    Saturday, September 23 2017 9:39 AM EDT2017-09-23 13:39:00 GMT
    Saturday, September 23 2017 12:29 PM EDT2017-09-23 16:29:06 GMT

    President Donald Trump says if a basketball player doesn't want to visit the White House to celebrate an NBA title, then don't bother showing up.

    President Donald Trump says if a basketball player doesn't want to visit the White House to celebrate an NBA title, then don't bother showing up.

Powered by Frankly