Located west of Abilene, Fisher County may have a fairly low population of about 4,000 residents, but it also enjoys a high level of oil and gas activity. Recently, a Fisher County jury handed down a $70 million verdict in connection with a complicated case involving allegations by two groups of investors, including Lowry Hunt of Mansfield’s L.W. Hunt Resources and Richard Raughton of Fort Worth, who claimed that they were conned out of sizable profits from West Texas oil and gas production leases.
The intervenor plaintiffs sued Kerwin Stephens of Stephens & Myers in Graham and Abilene oilman Chester Carroll of Alpine Petroleum and claimed that the defendants hatched a fraudulent scheme to cut existing partners out of an oil and gas partnership and take the profits for themselves. The case is L.W. Hunt Resources v. Stephens.
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