SEC Wants Striker Execs To Pay $3.6M In Fraud Case

Law360, New York (July 19, 2011, 4:38 PM EDT) -- The U.S. Securities and Exchange Commission on Monday asked a Texas federal judge to order two Striker Petroleum LLC directors to pay more than $3.6 million in disgorgements and penalties for allegedly inflating the company's worth and defrauding investors of $57 million.

Striker President Mark Roberts and Vice President Christopher Pippin are liable for $2.9 million and nearly $630,000, respectively, representing disgorgements of investor funds the men received plus prejudgment interest, the SEC alleges in a motion filed with the court.

Additionally, the SEC is urging...
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