The owner of Citizens Oil & Gas was arrested.
John C. Parsons, a two-time felon who struck it rich selling Alaskan oil leases to Midwestern investors, was arrested at his Newport Beach office on a six-count felony warrant alleging fraud and illegal securities transactions. The charges--two counts each of securities fraud, sale of unregistered securities and operating as an unregistered securities broker--were contained in a warrant issued late Wednesday by the Kansas Securities Commission. A man identified only as a spokesman for Citizens said: “We are unaware of it (Parson’s arrest). But we categorically deny any of the accusations being made.”