Pratt company pleads guilty in oil and gas fraud case

A Pratt company whose leader was indicted last year in an oil and gas scheme pleaded guilty Thursday to one count of wire fraud.

Meanwhile, charges against Sonstone Trading executive David Lawson were dismissed, U.S. Attorney Tom Beall’s Office said in a news release. Lawson was originally charged with a count of wire fraud amid allegations he made a deal to sell 90 barrels of crude oil a day to a company called Parnon Gathering but gave the business raw gas oil instead.

On Thursday, Sonstone Trading admitted it agreed to sell 3,000 barrels of crude oil a month to Parnon but delivered the less-valuable raw gas oil, which is a byproduct of recycling used motor oil, in its place, Beall said.

Sentencing in the case is set for Aug. 10. The court will determine how much money was lost at that time. Prosecutors contend it was more than $994,000.

This story was originally published May 25, 2017 at 4:28 PM with the headline "Pratt company pleads guilty in oil and gas fraud case."