Investors across at least 15 States were taken in by seasoned UNLICENSED sales reps making misleading and false claims, including a retired school teacher from Ohio and a WWll veteran from Florida. I have no doubt that these investors will NOT see a penny of their investments back.
The complaints brought by the SEC in December 2021 were for acts that took place in 2016 and 2017. The wheels of Justice often move slowly.
The defendants operated Oil & Gas joint ventures. They misrepresent the investments for approximately 2 years and the claim is for $3.2 million. The investigation is still ongoing and may result in other findings.
Click here to read the SEC Case.
With oil prices rising in 2021, the con artist will be coming out of the woodwork. If you are presented with an opportunity to invest in Oil or Gas or for that matter, anything from a cold caller, my recommendation would be to hang up. At a minimum make sure you are capable of doing in depth due diligence or contact someone that has the skill set to analyze the investment. Also, make sure the security is registered with the State and the SEC and the agents are licensed. You can review a registration filing at [ Ссылка ].
If you suspect one of your investments might be at risk for fraud, call us, CPAA+. We do not manage investors’ funds; instead, we use our expertise to help keep you from becoming a victim of financial fraud. If you would like a free consultation, contact us at 412-370-8524 or sign up for our weekly blog.
