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A Grand Jury has indicted the owner and five employees of Target Gas and Oil, on at least 23 felony counts a piece, saying they lied to investors to collect money.
Since 2003 Target Oil and Gas has been under investigation. Now the Grand Jury says there is enough evidence to put this case to trial.
Michael Smith, the owner of Target Oil, his brother Christopher Cello Smith, his nephew Shaun Smith, and three others; Ray Garton, Mark Irwin, and Joshua Harris are all accused of conspiring to scam money from investors throughout the country.
According to the indictment it worked, stating the company collected 3.1 million dollars, while only paying out 37 thousand dollars to those same investors.
It's also alleged that the company used Ray Garton, a Geologist, to create brochures with false claims of finding oil in parts of Kentucky and embellishing the success of Target Oil.
Claims all six defendants either denied or wouldn't respond to after leaving the federal courtroom today.
At least six other states have filed cease and desist orders saying the company is using illegal business tactics. Those charges also date back to 2003.
All six have a trial scheduled for March.