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An article in The Rochester Democrat and Chronicle, by Gary Craig, brings to light another alleged oil and gas scam that raised more than $16 million from investors.  According to court documents, Ashvin Zaveri and his company Zaveri Oil & Gas, Ltd, are under investigation for defrauding investors, but no charges have been filed against Zaveri at this time.  Court papers reveal that the investigation has been underway for at least nine months and has turned up some disconcerting details.  Investors were told that the money would be used to develop land for oil and gas drilling ventures.  They were also told that their full investment would be returned in a certain time frame, such as 5 months, along with a returns check.  But Zaveri had other plans.Court papers allege that Zaveri dodged angry investors who had stopped receiving checks.  One investor even went to Zaveri’s office to pick up a $25,000 check after receiving multiple excuses from Zaveri, only to have the check bounce.  Authorities say that they cannot account for all the investor money as this time, and allege that money went to personal loan payments, Zaveri’s wife, credit card payments, other personal expenses, and other investor’s returns.Although the investigation is still underway, it does not bode well for investors.  Zaveri’s daughter cleaned out the family’s safety deposit box, and checks are bouncing.Once checks stop coming, it’s too late, and investors need to realize that they’ve probably seen the last of their nest egg.  To avoid a similar situation, ask Investor’s Watchdog for protection before you invest.