Striker Investors Target Execs Over $60M In Botched Debentures

Law360, New York (July 26, 2012, 10:39 PM EDT) -- Striker Petroleum LLC investors sued two company executives for $4 million Thursday, alleging they made misleading statements about the company’s operations that led the investors to purchase debentures through which Striker raised $57 million for what ultimately turned out to be a Ponzi scheme.

In a complaint filed in Wyoming federal court, trusts that bought the debentures claim former Striker general counsel Steve Holmes and his firm Carter Holmes PLLC were not proper, independent third-party trustees for the debentures, and that former Chief Financial Officer Richard...
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