Send Sentencing Delayed for Businessman in Oil Scam

Posted: 8:35 AM May 4, 2012
Reporter: Associated Press

A federal judge has postponed sentencing for a Campbellsville businessman convicted of scamming clients in an oil-and-gas drilling scheme in which investors lost millions of dollars.

U.S. District Judge Karen Caldwell did not immediately set a new sentencing date for Gary Moss Milby.

The Lexington Herald-Leader reported (http://bit.ly/JHAdoQ ) that paramedics were called to the federal courthouse in Lexington on Thursday to examine Milby, who became ill as a sentencing hearing was set to start.

A federal jury convicted Milby and 48-year-old Bryan S. Coffman in May 2011 of defrauding 594 investors of more than $36.5 million.

Prosecutors say Coffman and Milby used the money to pay for boats and vehicles, real estate, jewelry, parties, family travel and trust funds

Coffman was sentenced Wednesday to 25 years in prison.

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