The SEC has charged a Dallas firm and its three principals with running a $485M oil-and-gas...
The SEC has charged a Dallas firm and its three principals with running a $485M oil-and-gas Ponzi scheme, promising more than 7,700 investors returns of up to 18%.
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Comments (3)
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Neil459
07 Jul. 2009
The only reason this SEC would charge them is if there is a political angle. They must be Republicans or they pissed someone off.Why? Because the Democrat house just passed a carbon Ponzi scheme and its well on its way to becoming law and nobody seems to care. Isn't the definition of a Ponzi scheme promising great returns selling nothing for something. But its a Democratic idea so its ok!
Tom Au, CFA
07 Jul. 2009
"Oil and gas" Ponzi scheme. The "Chinese-American Warren Buffett." Jews selling Madoff's funds to other Jews. All forms of "affinity" fraud.
User 344830
07 Jul. 2009
UGA is up about 20% since April.Just sayin'.