- Associated Press - Wednesday, July 20, 2016

MINNEAPOLIS (AP) - Federal prosecutors allege a Minnesota man stole more than $2 million from investors hoping to make money off North Dakota’s oil boom.

Fifty-year-old Ronald David Johnson of Corcoran is charged with five counts of wire fraud and one count of money laundering.

According to court documents, Johnson came up with an investment idea to house oil workers in the Bakken in North Dakota and Montana. The idea would allow oil workers to park their recreational vehicles in warehouses and share laundry and vending machines.

The indictment alleges Johnson fraudulently solicited $2.1 million from four investors. Instead of using the money for RV parks, Johnson allegedly used more than $1.8 million to fund his cattle farm, take vacations and purchase a 17-acre island.

Defense attorney James Becker had no comment Wednesday.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide