Texas man sentenced in $1.6 million oil equipment fraud

KANSAS CITY, Mo. (AP) – A Houston, Texas, man has been sentenced in Missouri to five years in federal prison for defrauding two men out of $1.6 million.

Federal prosecutors say 58-year-old Duc Nguyen was sentenced Monday. Nguyen pleaded guilty last year to one count of wire fraud.

Prosecutors say he persuaded Phillip Hudnall of Lenexa, Kansas, and his brother, Brian Hudnall, of Kansas City, Missouri, to invest in a plan to buy, refurbish, and sell used oil equipment.

The brothers transferred $1.6 million to Nguyen, who used it for trips to Las Vegas and personal expenses.

The brothers pleaded guilty in 2020 to defrauding other investors and a bank out of $4.5 million as part of the scheme.