Promoters at investor conferences sell the sizzle, not the steak. Investors who make their investment decision based on what they learn there are at serious risk of falling victim to a scam.
Oil and gas frauds will never fade. They’ve proven too good a vehicle for separating people from their life savings.
Scamsters now realize that the universe of possible victims is as big as the globe.
A con man will . . . slap a fish magnet on the back of his car, tune his radio to a Christian station, and wear a cross around his neck; all in hopes that believers will forsake a thorough investigation in favor of a “he’s a Christian; he must be honest,” short-cut.
May found the climate too hot once federal investigators began looking into his operation. He was on the run for three months before the U.S. Marshal’s service caught up to him in San Francisco, where he was living under an assumed name.
The U.S. Securities and Exchange Commission (“SEC”) has charged Alan Todd May, whom it describes as “a felon with a long criminal history of theft and fraud,” with raising more than $6 million in a fraudulent scheme involving sale of unregistered interests in oil and gas properties.
The U.S. Securities and Exchange Commission has charged Thomas A. Labry and his company Cherokee Gas Systems, Inc. with engaging in a fraudulent unregistered offering of investments in oil and gas. The SEC took emergency action to halt the offering and freeze the defendants’ assets.
The U.S. Securities and Exchange Commission (“SEC”) has brought yet another enforcement action against an alleged oil and gas fraud. Last week the SEC charged Gregory Shindler and Bradley James, and their companies Rockwell Energy of Texas and Rockwell Energy Management, of fraudulently raising more than $5 million from more than 130 investors nationwide. According to [...]
SEC Finds Two Alleged Oil and Gas Frauds
We’ve seen quite a few oil and gas frauds lately. Be aware that they are on the rise.