SEC Sues Father-Son Execs Over $15M Oil, Gas Scam

Law360, New York (June 9, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has brought civil fraud charges against Berkshire Resources LLC and its father-and-son principals, alleging a multimillion-dollar oil and gas offering fraud.

In a complaint filed Monday in the U.S. District Court for the Southern District of Indiana, the SEC alleges that from April 2006 to December 2007 the Wyoming company raised $15.5 million from 265 unwitting investors through a series of unregistered, fraudulent securities offerings.

The commission claims that Berkshire, David G. Rose and his son, Jason T. Rose, falsely...
To view the full article, register now.