Covenant Awarded $2.5M For Soil Savers Fraud

Law360, New York (August 1, 2008, 12:00 AM EDT) -- A federal judge awarded investment partnership Covenant Capital Partners $2.5 million on Wednesday in a suit accusing a Dallas-based environmental remediation company of defrauding investors.

Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas ruled Wednesday that Soil Savers Inc. and its president, Larry T. Johnson, fabricated reports about the company’s technology and operations and pocketed millions from investors.

Soil Savers raised more than $11 million on the merits of fictitious reports, including more than $2.5 million from two Covenant partnerships...
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