SEC Goes After Assets Of Oilman In $17M Fraud Case

Law360, New York (June 23, 2010, 6:34 PM EDT) -- The U.S. Securities and Exchange Commission has asked a federal court to impose a permanent injunction against one of the Texas oilmen accused of raising $16.6 million in fraudulent securities under the name Giant Operating LLC as well as issue an order having his assets frozen and put into a receivership.

The SEC filed a motion Tuesday seeking the U.S. District Court for the Northern District of Texas to enter final judgment of a permanent injunction and an order imposing receivership as to William C. Arnold...
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