Texas Oil Co. Defrauded Hundreds of Investors: SEC

Law360, New York (December 4, 2007, 12:00 AM EST) -- A Texas man and his oil company were in reality running a “boiler room operation” that hid the fraudulent misuse of nearly $14 million raised from over 300 investors by brazenly misrepresenting the status of the company and three oil and natural gas fields, the U.S. Securities and Exchange Commission has alleged.

The SEC sued Tommy Eugene Barber and his company, T-Bar Resources LLC, on Thursday in the U.S. District Court for the Northern District of Texas, citing violation of federal securities laws.

Federal regulators requested...
To view the full article, register now.