Oil Exec's Assets Frozen In $17M Fraud Suit

Law360, New York (September 9, 2010, 4:20 PM EDT) -- A federal judge has frozen the assets of a Texas oilman accused of pocketing over $1 million of investors' money in a $17 million boiler room-style securities fraud.

Judge Jane J. Boyle of the U.S. District Court for the Northern District of Texas on Tuesday granted a U.S. Securities and Exchange Commission motion to freeze the assets in a suit that alleges energy securities company Giant Operating LLC defrauded over 150 investors out of $17 million between 2007 and 2009.

Giant Operating was an unregistered securities...
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