Snyder gas company to receive money from former executive

Staff Report
NewsWest 9

A Snyder Gas Company is set to get about 40-million dollars from a former executive who embezzled money from the West Texas based Oil and Gas drilling company.

On Thursday, a federal judge approved a plan to return half of the 77-million dollars that was taken illegaly from Patterson U-T-I  by Jonathon Nelson.

In April of 2006, Nelson plead guilty to one count of wire fraud and aiding and abetting, and one count of engaging in monetary transactions derived from specified unlawful activity and aiding and abetting.

The company expects to receive the money within 60-days.