Former North Dakota Oil Executive Faces Fraud Charges

Jan 8, 2017 |
Former North Dakota Oil Executive Faces Fraud Charges

BISMARCK, N.D. (AP) A onetime North Dakota oilfield executive is accused of breaking federal law by falsely inflating company revenues by tens of millions of dollars. Joseph Kostelecky, of Dickinson, is charged with five counts of wire fraud and one count of securities fraud. Each count carries a maximum penalty of 20 years in prison. Kostelecky pleaded not guilty at a hearing in Bismarck Friday. Trial is scheduled for March 7. Prosecutors say Kostelecky served as the sole executive o
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