Texas Oilmen Bilked Investors Of $16.6M: SEC

Law360, New York (April 23, 2010, 12:37 PM EDT) -- A federal magistrate judge has recommended that a Texas oil man's assets be frozen and added to a receivership amid regulators' allegations that he and others were involved in raising $16.6 million in fraudulent securities under the company name Giant Operating LLC.

Magistrate Judge Paul D. Stickney's ruling, issued Wednesday in the U.S. District Court for the Northern District of Texas, said Stephen C. Plunkett, of Grand Prairie, Texas, should not make any transactions without the permission of receiver Karen L. Cook.

District Judge Jane J....
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