Highlights:

• Former Bossier City oilfield executive sentenced to 30 months in federal prison
• Ordered to pay over $1.1 million in restitution for laundering company funds
• Misused money during bankruptcy proceedings to hide assets
• Case underscores increased scrutiny in Louisiana’s oil and gas sector

Bossier Parish Oil Exec Gets Federal Prison Time in Money Laundering Case

Prosecutors say he tried to hide over $1.1 million while his oilfield firm was in bankruptcy.

BOSSIER CITY, La. (KPEL News) — A former oilfield consulting executive from northwest Louisiana is heading to federal prison after pleading guilty to money laundering charges tied to a failed business and more than $1 million in concealed funds.

Brian T. Owen, 52, of Caddo Parish, was sentenced to 30 months in prison and ordered to pay over $1.15 million in restitution, along with a $100,000 fine. He’ll also spend three years under supervised release once his prison time is served.

Bossier Businessman Misused Federal COVID Relief During Bankruptcy

According to The Shreveport-Bossier City Advocate, Owen’s company had filed for Chapter 11 bankruptcy in June 2020. During that time, he was still moving funds—including U.S. Treasury checks intended as COVID-related tax credits—into a bank account he controlled.

Rather than use the funds to keep the business afloat, prosecutors say Owen used the money for personal expenses, including gambling debts.

DOJ: How the Money Laundering Scheme Played Out

Owen tried to make the transactions look legitimate, structuring payments to mask the source of the funds. But investigators from the IRS, FBI, and Louisiana State Police uncovered the fraud. In October 2024, Owen pleaded guilty to one count of money laundering.

READ MORE: COVID Fraud Cases Top $10 Billion, Baton Rouge Woman Among Hundreds Sentenced

The Department of Justice made it clear: these weren’t bookkeeping errors. These were calculated moves to dodge financial oversight during a time when the company—and the country—was under immense economic pressure.

The FBI led the investigation. Assistant U.S. Attorney Seth D. Reeg prosecuted the case.