ND Oil Company Senior Executive Pleads Guilty In Fraud

(Bismarck, ND) — A North Dakota oil executive is facing sentencing after pleading guilty to fraud. Joseph Kostelecky admitted that he perpetrated a scheme to inflate Poseidon Concepts Corporation’s revenue causing shareholder losses. Kostelecky was the highest ranking U.S. executive in the company and served from around November 2011 to December 2012. Sentencing is scheduled for January 10th, 2022.

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