CORRECTED: Oil & Gas Co. Censured After Advertising To Bitcoin Users

Law360, Dallas (March 12, 2014, 12:53 PM EDT) -- The Texas State Securities Board on Monday ordered an oil and gas company that billed itself as the first to take investments by Bitcoin to stop selling unregistered securities, with the agency finding the company used fraud to sell working interests in several oil and gas wells in the state.

An emergency cease and desist order signed by Texas Securities Commissioner John Morgan found Balanced Energy LLC, an exploration and production company headquartered in a Dallas suburb, offered working interests in oil and gas wells at...
To view the full article, register now.
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.