Texas Oilman Ordered To Pay $4.8M Over Investment Scheme

Law360, New York (March 9, 2012, 5:55 PM EST) -- A federal judge on Wednesday leveled a $4.8 million judgment against a Texas oilman allegedly responsible for a multimillion-dollar fraud scheme that promised lofty returns for investing in oil drilling projects in Texas and New Mexico.

The court ordered George W. Harris to pay a $2.37 million civil penalty, $333, 767 in prejudgment interest and disgorge more than $2 million, doling out punishment in a case originally brought by the SEC in September 2009.

Harris and his co-defendants, using his Texas-based company, Giant Operating LLC, raised...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. Harris et al

Case Number



Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange


Jane J. Boyle

Date Filed

September 28, 2009

Law Firms

Government Agencies

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.