SEC Hits Former Quest Execs With $11M Fraud Suit

Law360, New York (June 17, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has sued two former executives of Quest Resource Corp. and Quest Energy GP LLC, alleging that they misappropriated more than $11 million from the companies through insider loans that were also undisclosed related-party transactions.

The SEC filed its complaint against the executives Wednesday in the U.S. District Court for the Western District of Oklahoma, concurrently with criminal charges filed by the U.S. Attorney's Office for the Western District of Oklahoma against one of the executives.

The SEC complaint alleges that...
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