{"id":6677,"date":"2018-11-26T10:54:07","date_gmt":"2018-11-26T16:54:07","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6677"},"modified":"2018-11-26T10:54:07","modified_gmt":"2018-11-26T16:54:07","slug":"alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/","title":{"rendered":"Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment"},"content":{"rendered":"<p>\t\t\t\tAuthorities in Texas have arrested Phillip Michael Carter for fraud. Carter, a North Texas real estate developer, is accused of raising $17.5M from investors in the state who thought their money was going toward development projects. His victims included older investors. The <a href=\"https:\/\/www.ssb.texas.gov\/news-publications\/north-texas-developer-indicted-alleged-17-million-real-estate-fraud\" target=\"_blank\" rel=\"noopener noreferrer\">Texas State Securities Board<\/a> announced his arrest.<\/p>\n<p>Carter\u2019s wife, Shelley Noel Carter, also faces investor fraud and money laundering charges. Another man, Richard Gregory Tilford, who was indicted earlier this month in Collins County, is charged with selling about $5M in fraudulent real estate investments from investors. He allegedly did not tell investors that he was a convicted felon who had pleaded guilty to not submitting a tax return several years ago.<\/p>\n<p>Carter owns North Forty Development and Texas Cash Cow Investments. He and Tilford purportedly told investors their money would be put into residential and commercial property development. Instead, Carter allegedly used their funds for:<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/\"  title=\"Continue Reading Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Authorities in Texas have arrested Phillip Michael Carter for fraud. Carter, a North Texas real estate developer, is accused of raising $17.5M from investors in the state who thought their money was going toward development projects. His victims included older investors. The Texas State Securities Board announced his arrest. Carter\u2019s wife, Shelley Noel Carter, also [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3750],"tags":[3197],"class_list":["post-6677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-texas-securities-fraud","tag-phillip-michael-carter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment &#8212; Investor Lawyers Blog &#8212; November 26, 2018<\/title>\n<meta name=\"description\" content=\"Authorities in Texas have arrested Phillip Michael Carter for fraud. Carter, a North Texas real estate developer, is accused of raising $17.5M from investors in the state who thought their money was going toward development projects. His victims included older investors.\" \/>\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\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment &#8212; Investor Lawyers Blog &#8212; November 26, 2018\" \/>\n<meta name=\"twitter:description\" content=\"Authorities in Texas have arrested Phillip Michael Carter for fraud. Carter, a North Texas real estate developer, is accused of raising $17.5M from investors in the state who thought their money was going toward development projects. His victims included older investors.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/gavel-judge-overlay.jpg\" \/>\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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment &#8212; Investor Lawyers Blog &#8212; November 26, 2018","description":"Authorities in Texas have arrested Phillip Michael Carter for fraud. Carter, a North Texas real estate developer, is accused of raising $17.5M from investors in the state who thought their money was going toward development projects. His victims included older investors.","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\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/","twitter_card":"summary_large_image","twitter_title":"Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment &#8212; Investor Lawyers Blog &#8212; November 26, 2018","twitter_description":"Authorities in Texas have arrested Phillip Michael Carter for fraud. Carter, a North Texas real estate developer, is accused of raising $17.5M from investors in the state who thought their money was going toward development projects. His victims included older investors.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/gavel-judge-overlay.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment","datePublished":"2018-11-26T16:54:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/"},"wordCount":380,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/gavel-judge-overlay.jpg","keywords":["Phillip Michael Carter"],"articleSection":["Texas Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/","url":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/","name":"Alleged $17.5M Texas Investor Fraud Leads to Criminal Indictment &#8212; Investor Lawyers Blog &#8212; November 26, 2018","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/alleged-17-5m-texas-investor-fraud-leads-to-criminal-indictment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/gavel-judge-overlay.jpg","datePublished":"2018-11-26T16:54:07+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Authorities in Texas have arrested Phillip Michael Carter for fraud. 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