Another group of investors filed a complaint to the United States Bankruptcy Court for the Eastern District of Texas-Sherman Division. Under Case No 09-42154-BTR-11, 5 entities have appealed to the court to not allow the release of this debt assigned to Rogers;

• DK JV 1 and DK JV 2 for                        286,839
• Vandalai LLP and Parlai LLLP for            330,811
• RTB Holdings, LTD for the amount          94,973
• Total amount identified                     $ 712,623

Following a three week arbitration hearing in May and June of 2008, the arbitration panel issued its award in the Arbitration proceeding dated April 1, 2009. The Award issued damages to these investors as a result of investing in this oil and gas entity. This group was created by several individuals, including Kelly Rogers. The entity was officially issued by the Recorder of Collin County on March 1st, 2005. The paperwork was submitted by Kelly Rogers and is posted below.

The complaint, objecting to the discharge of awards issued against Kelly Rogers, included all but one investment group. That group is KCR Investments, Inc which is short for "Kelly and Carrie Rogers Investments, Inc. This group represented money invested by Carrie Rogers Father, Frederic D. Sewell. Mr. Sewell is one of the founders of Netherland, Sewell & Associates, Inc. According to the site; NSAI was built on the vision and integrity of Clarence Netherland and Fred Sewell. Over 45 years later, our commitment remains the same. Many of those who invested in these oil and gas offerings will tell you that Rogers often dropped his father-in-laws name as an investor. This was used in the context that he was giving it his stamp of approval, even though it was emphasized that we were not suppose to know this information. Turning to the documnet, here are the counts; One-Rogers obtained money and/or property from Plaintiffs by false pretenses, by false misrepresentations, and/or by actual fraud. Two-that the debts owed by Rogers are for fraud and/or defalcation while acting in a fiduciary capacity. Finally-the arbitration panel, in the Award, specifically found Rogers liable to Plaintiffs for, inter alia, fraud and breach of fiduciary duty. If you're keeping score at home, two groups have now asked the court to suspend the release of funds owed to them by Rogers. One group (Falcon Energy, LLC-Buck Hamilton Series) invested $1,400,000 and is asking the judge to preserve the $180,000 that was embezzled by Rogers and be assigned as a lien against the Rogers home. You may know that in Texas, your home is protected under the Homested Act. As a result, Rogers tried to cram as much money into this home in order to preserve his wealth from investors who have sued him. However, the first group is asking the judge to include thier $180,000 that they claim Rogers embezzled, to be applied against the home. The second group (dicussed here on this page) have asked the judge to disallow the release of $712,623 in debt as part of a $14,341,333 total award issued as a result of the Lionheart oil and gas debacle. To our knowledge, no ruling has been issued to date. We'll keep an eye on these issues.