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Group of Crooks Able to Rack Up $36M in Rip Offs

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LEXINGTON, Kentucky - A scam taking hundreds of people at a tune of $36 million. In this case, the con artists knew exactly how to outsmart their targets. Gary Milby provided a detailed prospectus for Mid-America Oil and Gas to potential investors, as well as what seemed like a strong argument on why investors should trust him. Robert Buechner is a lawyer who had invested in similar projects with other companies. Buechner was intrigued and did his due diligence, including visiting the oil wells to see them first hand.

Buechner witnessed oil gushing out of the wells and was impressed. The truth: it was all a show. Gary Milby, along with attorney Bryan Coffman, lured more than 260 victims into this scam. Total losses, more than $36 million. Inspectors found Kaufman was depositing investors' funds into accounts he and his family controlled. The money bought condos and luxury items.

The scam began to unravel when investors started asking questions about their statements. Buechner says he did everything he could to research the investment. The problem, the con artists in this case outsmarted the victims. Bryan Coffman and Gary Milby were both charged with 8 counts of mail and 9 counts of wire fraud. A judge sentenced Milby to 20 years in prison and Bryan Coffman received 25.

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