“Denver CEO of oil & gas firm arrested on suspicion of defrauding Weld landowner” – The Greeley Tribune

Some mineral owners in Broomfield signed lease offers with Ferrari Energy LLC.

“Denver CEO of oil & gas firm arrested on suspicion of defrauding Weld landowner”

By Joe Moylan, The Greeley Tribune 2/14/19

“A Denver man and founder of an oil and gas royalty consulting firm has been arrested on suspicion of defrauding a Weld County landowner out of hundreds of thousands of dollars in mineral royalties.”

“Adam Ferrari, 36, CEO and managing partner of Denver-based Ferrari Energy LLC, was arrested Feb. 7 and booked into Denver City Jail on suspicion of 14 felony charges, including four counts of identity theft, four counts of forgery, three counts of attempting to influence a public servant and three counts of theft.”

“Ferrari is accused of attempting in 2016 to defraud Jennifer Davis and Anadarko Petroleum Corporation out of about $305,000 Anadarko held in a suspense account for the Rice Family Trust. Davis, a resident of Oregon, is the daughter of Dale and Theora Rice, also of Oregon, and a beneficiary of the trust, which owned four parcels of land in Weld County being developed by Anadarko.”

“A suspense account is one set up by an oil and gas operator to hold a mineral owner’s royalties should the parties lose contact.”

Please read the rest of the article here  https://www.greeleytribune.com/news/denver-ceo-of-oil-gas-firm-arrested-on-suspicion-of-defrauding-weld-landowner/