Date: 06-07-2024

Case Style:

United States of America v. Matthew Clark

Case Number: 23-CR-80038

Judge: George C. Hanks

Court: The United States District Court for the Southern District of Texas (Harris County)

Plaintiff's Attorney: The United States Attorney’s Office in Houston

Defendant's Attorney:

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Description:

Houston, Texas criminal defense lawyer represented the Defendant charged with illegal kickback and commodities insider trading scheme
Former energy company president sentenced for over $5.5M illegal kickback and commodities insider trading scheme

Matthew Clark, age 56, Clark conspired with others to direct his employer’s trades to Houston-based Classic Energy LLC, a brokerage firm Matthew Webb, 54, Tiki Island, owned and operated, in exchange for illegal kickbacks. As part of his prohibited trading, Clark conspired with John Ed James, 54 Katy, and Peter Miller, 49, Puerto Rico. Clark received more than $5.5 million in illegal kickbacks for his trades.

Webb pleaded guilty in June 2021 to conspiracy to commit commodities fraud and wire fraud and to violate various provisions of the Commodity Exchange Act. James pleaded guilty to conspiracy to commit wire fraud and commodities fraud and is scheduled to be sentenced July 1, while Miller admitted to conspiracy to commit commodities fraud and is set for sentencing June 20.

In two other related cases, Marcus Schultz, 44, Houston, and Lee Tippett, 64, Jacksonville, Florida, pleaded guilty in July 2020 and August 2021, respectively. Schultz pleaded guilty to conspiracy to commit wire fraud and to violate various provisions of the Commodity Exchange Act and is scheduled to be sentenced July 1. Tippett pleaded guilty to conspiracy to commit commodities fraud and honest services wire fraud and was previously sentenced to 33 months in prison.

Clark was permitted to remain on bond and voluntarily surrender to a U.S. Bureau of Prisons facility to be determined at a later date.

The FBI conducted the investigation.

Assistant U.S. Attorney Grace Murphy prosecuted the case along with Assistant Chief Leslie S. Garthwaite and Trial Attorneys Della Sentilles and David Hamstra of the Criminal Division’s Fraud Section.

Outcome:

Defendant was found guilty and sentenced to 78 months in prison. He must also pay $7,709,509 in restitution and forfeit $6,532,360

Plaintiff's Experts:

Defendant's Experts:

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