{"id":4044,"date":"2016-12-24T20:42:54","date_gmt":"2016-12-25T02:42:54","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4044"},"modified":"2022-03-28T10:44:56","modified_gmt":"2022-03-28T15:44:56","slug":"texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/","title":{"rendered":"Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble"},"content":{"rendered":"<p><strong>Texas First Financial CEO is Arrested For Fraud <\/strong><\/p>\n<p>Authorities have arrested Bobby Eugene Guess, an ex-Texas-based registered representative and the CEO and founder of Texas First Financial, for <a href=\"https:\/\/texas.stockbroker-fraud.com\">financial fraud<\/a>. Guess promoted himself as a financial expert through financial seminars and radio promotions in the Dallas-Fort Worth area.<\/p>\n<p>He\u00a0is accused of running a Ponzi scam online involving two companies\u2014StaMedia Inc., which is a Dallas company, and TenList Inc. According to the Texas State Securities Board, Guess was indicted for money laundering, securities fraud, theft, and taking part in organized criminal activity involving the multi-million-dollar sales of investments in an internet ad company.<\/p>\n<p>Prosecutors contend that Guess and others sold $6M in investment contracts, stock certificates, and notes in Stamedia Inc. Also, he allegedly raised millions of dollars from Stamedia investors from \u201914 to \u201916 but did not disclose that the company\u2019s net income and revenue were negligible. Investor funds were allegedly used to pay earlier investors the returns they were promised.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/#more-4044\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Texas First Financial CEO is Arrested For Fraud Authorities have arrested Bobby Eugene Guess, an ex-Texas-based registered representative and the CEO and founder of Texas First Financial, for financial fraud. Guess promoted himself as a financial expert through financial seminars and radio promotions in the Dallas-Fort Worth area. He\u00a0is accused of running a Ponzi scam [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792,3759,3750],"tags":[],"class_list":["post-4044","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","category-reits","category-texas-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble &#8212; Investor Lawyers Blog &#8212; December 24, 2016<\/title>\n<meta name=\"description\" content=\"Texas First Financial CEO is Arrested For Fraud Authorities have arrested Bobby Eugene Guess, an ex-Texas-based registered representative and the CEO and &#8212; December 24, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble &#8212; Investor Lawyers Blog &#8212; December 24, 2016\" \/>\n<meta name=\"twitter:description\" content=\"Texas First Financial CEO is Arrested For Fraud Authorities have arrested Bobby Eugene Guess, an ex-Texas-based registered representative and the CEO and &#8212; December 24, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble &#8212; Investor Lawyers Blog &#8212; December 24, 2016","description":"Texas First Financial CEO is Arrested For Fraud Authorities have arrested Bobby Eugene Guess, an ex-Texas-based registered representative and the CEO and &#8212; December 24, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/","twitter_card":"summary_large_image","twitter_title":"Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble &#8212; Investor Lawyers Blog &#8212; December 24, 2016","twitter_description":"Texas First Financial CEO is Arrested For Fraud Authorities have arrested Bobby Eugene Guess, an ex-Texas-based registered representative and the CEO and &#8212; December 24, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble","datePublished":"2016-12-25T02:42:54+00:00","dateModified":"2022-03-28T15:44:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/"},"wordCount":736,"articleSection":["Ponzi Scams","REITs","Texas Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/","url":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/","name":"Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble &#8212; Investor Lawyers Blog &#8212; December 24, 2016","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-12-25T02:42:54+00:00","dateModified":"2022-03-28T15:44:56+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Texas First Financial CEO is Arrested For Fraud Authorities have arrested Bobby Eugene Guess, an ex-Texas-based registered representative and the CEO and &#8212; December 24, 2016","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-ponzi-scams-oil-co-owner-indicted-federal-grand-jury-ceo-texas-first-financial-charged-internet-related-fraud-texas-reit-united-development-funding-remains-trouble\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Texas Ponzi Scams: Oil Co. Owner Is Indicted by a Federal Grand Jury, CEO of Texas First Financial is Charged in Internet-Related Fraud, and Texas REIT United Development Funding Remains in Trouble"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards &amp; Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards &amp; Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-13e","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=4044"}],"version-history":[{"count":2,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4044\/revisions"}],"predecessor-version":[{"id":25673,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4044\/revisions\/25673"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=4044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=4044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=4044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}