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Tag: Alan Todd May

  • BULLETIN: Feds Charge Former Parole Officer, Saying She Facilitated Texas Swindler In ‘Massive Scheme To Defraud Investors’

    BULLETIN: A former Texas Department of Criminal Justice parole officer has been accused of honest services wire fraud and federal programs bribery, amid allegations she developed an “improper relationship” with one of her “assigned parolees” and enabled him to pull off a massive oil-and-gas swindle.

    Nichelle Derricks, 37, of Cedar Hill, Texas, “secretly used her official position with TDCJ to enrich herself and others by soliciting and receiving cash payments, gifts, furniture, household goods and items, food and beverages, and other things of value from the parolee in exchange for favorable official action benefitting the parolee,” the U.S. Department of Justice said this morning.

    A Dallas Observer Blog is reporting that the parolee was Alan Todd May.

    In June 2010, the PP Blog reported that May was captured by the U.S. Marshals Service in San Francisco. He was wanted by the U.S. Secret Service and also was under investigation by the SEC for his multimillion-dollar “Prosper Oil & Gas Inc.” swindle.

    May had a long criminal record and was described by the SEC as a “felon.” In 2010, the U.S. Marshals Service said May had assumed “multiple identities to evade apprehension.”

    May pleaded guilty to wire fraud in December 2010. In February 2012, he was sentenced to 20 years in federal prison.

    Although the Justice Department did not reference May by name in its news release today, the agency said this (italics added):

    The indictment further alleges that Derricks repeatedly allowed the parolee to violate the terms of his parole by, among other things, permitting him to travel outside Texas without prior, written approval and by allowing the parolee to engage in prohibited financial transactions. According to the indictment, such favorable treatment allowed the parolee to facilitate a massive scheme to defraud investors through an oil and gas company founded and operated by the parolee while he was on state parole.

  • BULLETIN: Ponzi Suspect Alan Todd May, On Lam From Dallas And Wanted By U.S. Secret Service, Captured In San Francisco

    BULLETIN: Ponzi suspect Alan Todd May of Dallas has been captured by the U.S. Marshals Service in San Francisco.

    May, 45, was wanted by the U.S. Secret Service. In March, the SEC accused May of running an oil-and-gas Ponzi scheme through companies variously known as Prosper Oil & Gas Inc. and Prosper Energy Inc.

    May, who has a long criminal record and was described by the SEC as a “felon,” assumed “multiple identities to evade apprehension,” according to U.S. Marshal Federico Rocha.

    May pitched his scheme in ads in the Wall Street Journal, Barron’s, the Oklahoman, the Jewish Voice, the Abilene Reporter and on eBay, the SEC said in March.

    Records show that May was arrested 13 times between 1983 to 2002 for crimes such as theft, theft by check and credit card abuse. He also had been apprehended for probation violations and failure to appear in court.

    “These arrests resulted in at least 14 convictions, with dispositions ranging from probation to 20-years’ imprisonment,” the SEC said. “Most recently, he was released from prison in or about 2007.”

    In his latest scheme, the SEC said, May sold royalty interests in wells in to at least 99 investors, advertising returns of up to 38 percent.

    “May or other Prosper employees used investor funds for various lavish personal expenses, including approximately $611,000 for vehicle purchases and expenses (including purchases by May of a Ferrari, a BMW and a Mercedes), $400,000 in credit card payments, $430,000 for meals, entertainment and retail purchases, $324,000 in travel expenses, and $89,000 in cash withdrawals,” the SEC said in March.

    “In addition, during the scheme, May and Prosper acquired multiple houses and condominiums, including homes in Dallas, each valued at approximately $1.5 million. May also caused $611,000 in investor funds to be transferred to his personal bank accounts,” the SEC said.

    The Marshals Service said the scheme may involve $7 million.

    Records suggest May was booked into the Glenn E. Dyer Detention Facility in Alameda County without bail.

    “This arrest was a result of the combined efforts of the Dallas Fort Worth Fugitive Apprehension Strike Team, U.S. Secret Service and the Northern District of California Fugitive Task Force,” the Marshals Service said.

    NOTE: This story has been republished at a URL that is different than its original URL. Although this post reflects a date of June 13, it is not the original publication date. Click here to read why.