Judge: Pair must forfeit $33 million in oil scheme

ATM accidentally gives man $37K (Image 1)
ATM accidentally gives man $37K (Image 1)

LOUISVILLE, Ky. (AP) – Two men convicted in an oil-and-gas drilling scheme in which investors lost millions of dollars have been ordered to forfeit $33 million in cash, cars and property.

The decision by U.S. District Judge Karen K. Caldwell in Lexington brings to an end the long-running saga of 50-year-old former attorney, Bryan Coffman, and 60-year-old Tennessee businessman Gary Milby, who were convicted in May 2011 of multiple charges of mail, wire and securities fraud.

Caldwell granted a request by Milby's wife to omit $290,000 from two bank accounts, a condo in South Carolina and an interest in eight properties from the forfeiture order.

Coffman is serving a 25-year sentence at the federal prison in Terre Haute, Ind. Milby is serving a 20-year sentence at the federal prison in Ashland.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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