July 21, 2011
The U.S. Securities and Exchange Commission has reached a $2.4 million settlement with the receiver for defunct energy investment firm Provident Royalties LLC, which was accused of running a $485 million Ponzi scheme, according to court filings in Texas on Wednesday.
March 11, 2011
A Texas man accused of being part of a $485 million oil and gas Ponzi scheme said Friday that the U.S. Securities and Exchange Commission should face sanctions for forcing his attorneys to "fish" through thousands of documents.