Louisville man pleads guilty in fraud case
A Louisville businessman admits he defrauded investors out of millions of dollars. David Rose, a Louisville oil and gas executive, pleaded guilty to 22 charges. He agreed to a 52 month prison sentence in U.S. District Court Wednesday morning.
Rose promised clients he would invest their money in oil and gas exploration, but instead spent the funds on himself. Rose has paid back $1-million of the nearly $3-million he owes in restitution.
Rose is scheduled to be sentenced in November.