SEC Wants Striker Execs To Pay $3.6M In Fraud Case

Law360, New York (July 19, 2011, 4:38 PM EDT) -- The U.S. Securities and Exchange Commission on Monday asked a Texas federal judge to order two Striker Petroleum LLC directors to pay more than $3.6 million in disgorgements and penalties for allegedly inflating the company's worth and defrauding investors of $57 million.

Striker President Mark Roberts and Vice President Christopher Pippin are liable for $2.9 million and nearly $630,000, respectively, representing disgorgements of investor funds the men received plus prejudgment interest, the SEC alleges in a motion filed with the court.

Additionally, the SEC is urging...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Striker Petroleum, LLC et al


Case Number

3:09-cv-02304

Court

Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange

Judge

Sidney A Fitzwater

Date Filed

December 3, 2009

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.