Ehrman, of the Houston suburb The Woodlands, could receive up to 20 years in prison and a fine of up to $5 million when he is sentenced Jan. 29.
His attorney, Donald Petrillo, did not immediately return a telephone call on Wednesday.
Prosecutors accused Ehrman of falsely reporting to the SEC that Rocky Mountain had issued five million new shares as part of a deal to buy several oil and gas leases from BC&D Oil and Gas Corp. in 2002. However, more than 10 million shares were actually issued as part of the deal, which later fell through.
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