Former Quest chief financial officer found guilty of defrauding company out of $1 millionBy AP
Wednesday, February 24, 2010
Former financial officer guilty of wire fraud
OKLAHOMA CITY — A federal jury has convicted the former chief financial officer of Quest Energy Partners on three counts of wire fraud.
U.S. Attorney Sanford Coats says 56-year-old David Grose of Edmond, Okla., was convicted Wednesday following a two-day trial.
Coats says Grose planned to make a $1 million personal investment in a hydrogen fuel technology company in 2008.
He says Grose wired about $1 million from Oklahoma City-based Quest to a pipe supplier, then canceled the order and told the pipe company to wire the money to the hydrogen fuel technology company instead of returning it to the oil and gas company.
Grose faces up to 20 years in prison on each count.
His attorney, Mack Martin, says he plans to meet with Grose to discuss a possible appeal.
Tags: Fraud And False Statements, Geography, North America, Oklahoma, Oklahoma City, United States