SEC Sues Braintree Energy Over $9M Scam

Law360, New York (February 21, 2007, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has slapped Braintree Energy Inc. with a civil fraud complaint, alleging the company scammed investors out of more than $9 million by using exaggerated profit projections to sell fractional interests in oil and gas leases.

The SEC’s complaint, filed Tuesday in Massachusetts, named Braintree Energy and its principal, Howard Graham of Ontario, Canada, as defendants.

Documents and oral representations from Braintree and Graham told investors they could expect their principal back in less than a year, and projected that investors...
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