SEC Says Energy Cos. Should Pay $26M For Oil Scheme

Law360, New York (November 17, 2011, 9:30 PM EST) -- The U.S. Securities and Exchange Commission asked a Texas federal judge Thursday to order Halek Energy LLC and CBO Energy Inc. to pay about $26 million for allegedly bilking investors through an unregistered securities offering of stakes in several Texas oil and gas projects.

The regulator simultaneously filed motions to reopen the case and for judgment for disgorgement in a suit accusing Halek, its owner, CBO and a CBO sales representative of defrauding about 300 investors by soliciting them for funds to run drilling and operations...
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