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Former XTO Steals $1million from Company

by Elizabeth Alford on December 17, 2015

A former landman for XTO is convicted of a mineral rights scheme.

Related: Investors Lose Millions in Oil Well Scheme

During 2009-2011, Steven Fisackerly of Spring, used his position at XTO to generate bogus gas leases and then pocket the money for himself. As part of the fraud, he created a sham company called Parallel Interests, LLC. and opened a bank account in Fort Worth under the name of Paul Hinkle. He used the company to obtain mineral rights and falsified documents to route bonus checks for signing with the company, and then cashed them himself.

Fisackerly pled guilty to mail fraud and was sentenced to just over five years in federal prison and ordered to pay $1 million in restitution by U.S. District Judge Terry Means.

“During the course of the scheme, Fisackerly engaged in approximately nine fraudulent transactions, causing XTO to issues checks totaling $1,005,131,” U.S. prosecutors said in a statement.

Fisackerly was a landman for XTO, a division of ExxonMobil, from 2008 to 2012. It was here that he learned the ins and outs of how to negotiate oil and gas leases with landowners and had access to XTO’s computer system, which allowed him to track costs of oil and gas bonus payments and leases.

Read more at courthousenews.com

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