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Securities and Exchange Commission v. Faulkner et al

  1. June 26, 2023

    Energy Cos. In 'Frack Master' Scheme To Pay $97M Judgment

    Four companies that the U.S. Securities and Exchange Commission claimed were involved in convicted fraudster "frack master" Christopher Faulkner's multimillion-dollar oil-and-gas-related investment scheme will shell out more than $97 million in profits and interest, according to a Texas federal judge's order.

  2. January 11, 2021

    Trio Ordered To Pay $9.2M In 'Frack Master' Fraud Scheme

    Three people accused of helping self-described "frack master" Christopher Faulkner pull off an alleged $80 million securities fraud scheme have been ordered to pay over $9.2 million in civil penalties, disgorgement and interest.

  3. December 22, 2020

    Scheef & Stone To Pay $3M For Role In $80M Fraud Scheme

    Scheef & Stone LLP and two attorneys have agreed to pay $3 million to settle claims that they played a key role in self-described "frack master" Christopher Faulkner's alleged $80 million securities fraud scheme.

  4. February 26, 2019

    ND Justices Told Med Mal Damages Cap Is Unconstitutional

    An injured woman urged the North Dakota Supreme Court on Tuesday to strike down as unconstitutional a state law capping noneconomic damages in medical malpractice cases at $500,000, saying the law was enacted in 1995 as a solution to a nonexistent problem.

  5. November 13, 2018

    Mom Of 'Frack Master' Sanctioned $10K Over Receiver Suit

    The mother of self-described "frack master" Christopher Faulkner will pay a $10,000 sanction after misrepresenting a state lawsuit she filed against a court-appointed receiver that already resulted in a contempt finding against her, a Texas federal judge said Tuesday.

  6. October 23, 2018

    'Frack Master' Pleads Guilty To Fraud, Reaches SEC Deal

    A Texas oil and gas CEO and self-described "frack master" has pled guilty to duping investors out of more than $71 million and agreed to resolve a civil suit brought by the U.S. Securities and Exchange Commission by disgorging the roughly $23.8 million he kept for himself, U.S. Attorney Erin Nealy Cox said in a Tuesday statement.

  7. September 13, 2018

    Receiver Gets Expanded Estate In SEC's $80M Breitling Suit

    A Texas federal judge on Wednesday largely granted a court-appointed receiver's motion to expand the receivership estate to include more affiliate companies implicated in the U.S. Securities and Exchange Commission's $80 million fraud suit against Breitling Energy Corp., its CEO and a host of affiliates and individuals.

  8. June 06, 2018

    Breitling Execs Can Tap Insurance To Fight $80M SEC Suit

    A Texas federal judge ruled on Wednesday that three executives of Breitling Energy Corp. are entitled to use the company's insurance policy proceeds to pay for defense costs in fighting the U.S. Securities and Exchange Commission's $80 million fraud claims against them, despite protests from the company's court-appointed receiver.

  9. September 21, 2016

    Breitling Energy Affiliate Agrees To Judgment In Favor Of SEC

    An affiliate of Texas oil and gas company Breitling Energy Corp. saw an agreed judgment entered against it in a Texas court Wednesday on claims it was part of an $80 million fraud scheme.

  10. June 24, 2016

    SEC Says Breitling Energy CEO Directed $80M Fraud

    The U.S. Securities and Exchange Commission on Friday sued the head of Texas oil and gas firm Breitling Energy Corp., claiming that he orchestrated a fraud with seven colleagues that scammed investors out of $80 million over a five-year period and spent millions in investor funds on strip clubs and other personal expenses.

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