Oil Co. CEO Looted Investor Funds For Personal Use: SEC

Law360, New York (August 16, 2011, 2:47 PM EDT) -- Federal regulators on Monday sued the CEO of a Colorado energy company for defrauding investors, claiming he promised huge returns on oil and gas investments while instead splurging on a private jet, homes and other lavish personal items.

The suit accuses Geodynamics Inc. CEO Jeffory Shields of treating more than $5 million in investments made since 2010 as “a personal slush fund.” The suit alleges he spent more than $2 million on a Learjet, houses in Colorado and Florida, jewelry, sporting events, cars, and cash transfers...
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Case Information

Case Title

Securities and Exchange Commission v. Shields et al

Case Number




Nature of Suit



Robert E. Blackburn

Date Filed

August 15, 2011

Government Agencies

UK Financial Services

UK Financial Services

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