The Oregon Natural Resources Report - Agricultural News from Oregon

Sham energy company bilked 50 investors for $2.3M

October 10, 2018 --


By US Attorney Oregon District,

Theodore B. Holbrook, 37, and George J. Arauz, Jr., 45, both of Gresham, Oregon, were sentenced to 36 months in federal prison for defrauding 50 investors of nearly $2.5 million using a sham energy technology start-up company. Holbrook and Arauz were also ordered to pay more than $2.3 million each in restitution and will be on supervised release for three years after completing their prison sentences.



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