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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.