January 29, 2025
A Texas federal judge ruled in favor of the U.S. Securities Exchange Commission in an 11-year-old case accusing brokers of soliciting more than 340 "partners" to invest in drilling projects that were actually unregistered investment vehicles, granting the request for over $11 million in disgorgement, interest and a civil penalty from one of the brokers and his companies.
September 15, 2021
One of three brokers accused of selling $22 million worth of unregistered securities disguised as partnerships in oil and gas drilling projects has reached a settlement with the U.S. Securities and Exchange Commission ahead of a long-awaited Texas federal jury trial.
June 15, 2017
A Texas federal judge on Thursday denied a broker's attempt to get a new trial in the U.S. Securities and Exchange Commission's case accusing him of selling $22 million in unregistered investment vehicles that were disguised as partnerships in oil and gas drilling.
May 22, 2017
The U.S. Securities and Exchange Commission scoffed Monday at a retrial request from a broker found to have sold $22 million in unregistered investment vehicles disguised as partnerships in oil and gas drilling, telling a Texas federal court he is merely repackaging an already-rejected reconsideration bid.
May 02, 2017
A broker who claimed he was selling partnerships in oil and gas drilling projects but was found to have been selling unregistered investment vehicles asked a Texas federal judge Monday for a new trial, arguing the court wrongly focused on post-investment activities in granting the government an early win on the claims.
July 08, 2016
A Texas federal judge on Thursday declined to rethink his March ruling giving the U.S. Securities and Exchange Commission a quick win in the securities fraud case it brought against brokers who claimed to be selling "partnerships" in oil and gas drilling projects that actually were unregistered investment vehicles.
March 23, 2016
A Texas federal judge has handed the U.S. Securities and Exchange Commission a quick win on its securities fraud claims against brokers who sold $22 million in "partnerships" in oil and gas drilling projects, agreeing with the regulator that the projects weren't joint ventures but unregistered investment vehicles.