Burnet man pleads guilty in federal court to money laundering
April 03, 2013, 9:30 am by James Walker
A 53-year-old man, who works as a trainer at his wife’s fitness center in Burnet, has pled guilty to money laundering after fraudulently obtaining more than $6.8 million from investors.
Jimmy Morrisett, who trains individuals and leads classes at the Burnet 24 Hour Fitness center, will be sentenced July 8, according to a statement released by the United States Attorney’s Office in Tulsa, Okla.
The court can sentence Morrisett to 10 years in prison, a $250,000 fine, plus forfeiture of funds derived from the fraudulent scheme, according to federal sentencing laws.
Morrisett is the former CEO of Tulsa-based Oil and Gas investment companies, Red Earth Resources Inc. and Alpine Petroleum, LLC.
He acknowledged fraudulently obtaining funds from investors in Oklahoma and throughout the United States and Canada in pleading guilty before federal District Judge Gregory K. Frizzell in Tulsa.
Reached at the fitness center Tuesday, Morrisett declined to say much about his guilty plea.
"If I did I think it would have
an impact on July,” he said. "There’s a lot more to the story,
but I’ve got to do what I’ve got to do.”
For the complete story, see Wednesday's Burnet Bulletin.
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