SEC Wins $417K In Fraud Suit Over Fracking Investments

Law360 (March 27, 2020, 6:33 PM EDT) -- The U.S. Securities and Exchange Commission won final judgment and more than $417,000 in disgorgement and fines in Georgia federal court Friday in its suit alleging a Kentucky roofer bilked fracking investors out of $15 million in a securities fraud scheme.

After closing the case in April 2019 and issuing a permanent injunction against defendant Jared Gabriel Forrester, U.S. District Judge R. Stan Baker briefly reopened the case Friday to grant summary judgment to the SEC.

Forrester was ordered to pay $235,000 in disgorgement plus $32,396 in prejudgment interest, along with $150,000 in civil monetary penalties for a total of $417,396,...

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