SEC Wins Judgment Against Wellco Defendants

Law360, New York (February 23, 2011, 4:05 PM EST) -- A federal judge in Colorado on Monday granted the U.S. Securities and Exchange Commission's motion for summary judgment against Wellco Energy LLC's founder and a salesman in a suit alleging they misled investors in four oil and gas prospects.

Judge Marcia S. Krieger of the U.S. District Court for the District of Colorado noted that neither Wellco founder Justin William Rifkin nor salesman Dustin White responded to the SEC's summary judgment motion, filed in June. The judge ruled that she was required to assume that the...
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