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>>

  • Lax vetting on Trump nominees begins to frustrate senators

    Lax vetting on Trump nominees begins to frustrate senators

    Wednesday, April 25 2018 12:47 AM EDT2018-04-25 04:47:40 GMT
    Wednesday, April 25 2018 6:40 AM EDT2018-04-25 10:40:49 GMT
    (AP Photo/Alex Brandon). CIA director Mike Pompeo and his wife Susan Pompeo arrive for a State Dinner with French President Emmanuel Macron and President Donald Trump at the White House, Tuesday, April 24, 2018, in Washington.(AP Photo/Alex Brandon). CIA director Mike Pompeo and his wife Susan Pompeo arrive for a State Dinner with French President Emmanuel Macron and President Donald Trump at the White House, Tuesday, April 24, 2018, in Washington.

    As President Donald Trump's pick to lead Veterans Affairs skids to a halt, senators from both parties are voicing frustration that the White House is skipping crucial vetting of nominees and leaving lawmakers to...

    As President Donald Trump's pick to lead Veterans Affairs skids to a halt, senators from both parties are voicing frustration that the White House is skipping crucial vetting of nominees and leaving lawmakers to clean up the mess.

  • Jury to deliberate after Cosby painted as predator, victim

    Jury to deliberate after Cosby painted as predator, victim

    Wednesday, April 25 2018 12:26 AM EDT2018-04-25 04:26:54 GMT
    Wednesday, April 25 2018 6:40 AM EDT2018-04-25 10:40:27 GMT
    (AP Photo/Matt Slocum). Bill Cosby departs after his sexual assault trial near a cloud of bubbles blown by a protester, Tuesday, April 24, 2018, at the Montgomery County Courthouse in Norristown, Pa.(AP Photo/Matt Slocum). Bill Cosby departs after his sexual assault trial near a cloud of bubbles blown by a protester, Tuesday, April 24, 2018, at the Montgomery County Courthouse in Norristown, Pa.

    Jurors at Bill Cosby's sexual assault retrial are poised to start deliberating after a marathon day of closing arguments.

    Jurors at Bill Cosby's sexual assault retrial are poised to start deliberating after a marathon day of closing arguments.

  • Trump travel ban is focus of Supreme Court's last arguments

    Trump travel ban is focus of Supreme Court's last arguments

    Wednesday, April 25 2018 12:49 AM EDT2018-04-25 04:49:52 GMT
    Wednesday, April 25 2018 6:40 AM EDT2018-04-25 10:40:09 GMT
    (AP Photo/Jessica Gresko). In this April 23, 2018, photo, people wait in line outside the Supreme Court in Washington, to be in the gallery when the court hears arguments in on April 25, over President Donald Trump’s ban on travelers from several mostl...(AP Photo/Jessica Gresko). In this April 23, 2018, photo, people wait in line outside the Supreme Court in Washington, to be in the gallery when the court hears arguments in on April 25, over President Donald Trump’s ban on travelers from several mostl...

    The Supreme Court is saving one of its biggest cases for last, weighing President Donald Trump's ban on travelers from several mostly Muslim countries.

    The Supreme Court is saving one of its biggest cases for last, weighing President Donald Trump's ban on travelers from several mostly Muslim countries.

Powered by Frankly