Alleged Texas Oil Fraudster To Pay More Than $1.2M

Law360, New York (September 18, 2009, 4:31 PM EDT) -- Oil and gas company Texas Securities Partners LLC has agreed to disgorge $1.2 million in profits plus nearly $53,000 in prejudgment interest in order to settle fraud charges brought by the U.S. Securities and Exchange Commission.

In a final judgment signed by Judge Michael H. Schneider on Thursday in the U.S. District Court for the Eastern District of Texas, the firm and TSP President Tony E. Morrison consented to an order to pay back the money and to be permanently restrained from violating federal securities laws....
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