Energytec CEO Lied About Past Legal Troubles: SEC

Law360 (April 25, 2008, 12:00 AM EDT) -- The former chief executive of Energytec Inc. has agreed to pay $50,000 to settle charges that he submitted false information about his background to the U.S. Securities and Exchange Commission.

In a complaint filed with the U.S. District Court for the Northern District of Texas, the SEC alleged that Don L. Lambert failed to disclose his prior federal securities fraud conviction and his multiple bankruptcies when he was hired by Energytec.

Lambert also allegedly failed to disclose that he had forfeited his Texas law license to...
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