SEC Drills Into Alleged Oil And Gas Fraud

Law360, New York (September 16, 2009, 12:37 PM EDT) -- The U.S. Securities and Exchange Commission is going after oil and gas company Texas Securities Partners LLC for allegedly conducting an unregistered securities offering fraud that raised $12.7 million by promising incredible returns.

In a complaint filed Sept. 15 in U.S. District Court for the Eastern District of Texas, the SEC accused TSP and President Tony E. Morrison of making false statements promising returns of 80 percent to 120 percent in the first year.

The SEC is asking the court to enter judgments permanently enjoining TSP...
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