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Man sentenced to prison in Oklahoma for Ponzi scheme

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TULSA (AP) — A Texas man has been sentenced to nine years in prison after pleading guilty to running a scheme involving fraudulent oil and gas investments in Oklahoma.

Federal prosecutors said Friday that 53-year-old Jimmy Morrisett of Burnet, Texas, was sentenced Thursday after pleading guilty to an unlawful money transaction.

Morrisett was once the Tulsa-based chief executive officer of now-defunct Red Earth Resources, Inc., and Alpine Petroleum, LLC.

U.S. Attorney Danny Williams Sr.

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