The SEC announced Thursday that it has settled its insider trading case against former ClubCorp Holdings Vice President Nelson “Frank” Molina. The Texas Lawbook has the details.
© 2018 The Texas Lawbook. By Mark Curriden (July 2) – The U.S. Securities and Exchange Commission announced Monday that Houston-based KBR employed insufficient financial controls and procedures that resulted
The U.S. Securities and Exchange Commission filed new charges against seven executives of Grapevine-based Texas Energy Mutual involved in a $10 million oil and gas Ponzi scheme between 2013 and 2016 that defrauded hundreds of investors in several states.
Dallas-based Texas Coastal Energy Company and its CEO committed federal securities fraud by lying to investors and misappropriating $2.6 million of their money, the U.S. Securities and Exchange Commission said Tuesday.
(June 4) – The U.S. Securities and Exchange Commission has accused a musician and composer who designed sound systems at the ballparks for the Houston Astros and Texas Rangers with misleading financial investors and misusing $3.3 million for luxury Las Vegas hotels, designer clothing and large cash withdrawals at casino ATMs.
The promotional materials hyping new cryptocurrencies regularly include lists of “advisors” – usually respected individuals associated with well-known brands – in order to add credibility to the offerings. Whether or not the use of a name or brand in such cases is legitimate, being associated with a fledgling cryptocurrency can be risky. Businesses should be aware of the potential liability and know how to protect the reputation of their brands.
The SEC’s Fort Worth Regional Office announced Wednesday that it has charged and settled a case against an Edinburg paralegal-turned-registered municipal advisor accused of defrauding a South Texas school district involving multiple municipal bond offerings.
Werner has played a significant role in more than 100 SEC investigations and prosecutions, including the ongoing case against Breitling Energy CEO and self-proclaimed “Frack Master” Christopher Faulkner and the pending cryptocurrency fraud case against AriseBank.
Two South Texas businesses and their executives operated a pair of Ponzi schemes to raise $3.6 million from dozens of elderly investors as old as 101 and used a good portion of the money for personal reasons, including country club memberships, spa treatments, maid service and tithing to a church, according to federal charges brought by the U.S. Securities and Exchange Commission.
The SEC’s Fort Worth office has charged Dallas-based Americrude and two of its executives with defrauding 17 investors out of $950,000 in an oil and gas offering scheme. The alleged scammers created a boiler room of sales employees who cold called potential investors, “using a combination of high-pressure and deceptive sales pitches and false and misleading offering materials.” The Texas Lawbook has details.