Breitling Energy Corporation, Breitiling Oil & Gas Corporation, Crude Energy, LLC, Patriot Energy, LLC and Christopher A. Faulkner Charged by SEC – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Breitling Energy Corporation, Breitiling Oil & Gas Corporation, Crude Energy, LLC, Patriot Energy, LLC and Christopher A. Faulkner
The Securities and Exchange Commission charged four companies and eight individuals in an $80 million oil and gas fraud orchestrated by a Dallas man who calls himself the “Frack Master” for his purported expertise in hydraulic fracturing.
The SEC charged Chris Faulkner – the CEO of Breitling Energy Corporation (BECC) and recurring guest on CNBC, CNN International, Fox Business News, and the BBC to discuss oil-and-gas topics – with disseminating false and misleading offering materials, misappropriating millions of dollars of investor funds and attempting to manipulate BECC’s stock. The SEC also charged BECC and suspended trading in BECC’s securities for 10 business days.
According to the complaint, since at least 2011, Chris Faulkner has orchestrated a massive, multi-pronged, and fraudulent scheme that has defrauded hundreds of investors across the country out of approximately $80 million invested in oil-and-gas investments sold by companies he owns and controls (the “Faulkner Scheme”). According to the complaint, Faulkner – who has appeared on CNBC, CNN International, Fox Business News, and the BBC to discuss oil-and-gas topics, and who hosted a weekly radio talk show in Dallas – has misappropriated at least $30 million in investor funds to maintain a lifestyle of decadence and debauchery.
To perpetrate his fraudulent scheme, according to the complaint, Faulkner used at least four entities that he controlled, including publicly-traded Breitling Energy Corporation (ticker: “BECC”). According to the complaint, he also enlisted scores of other individuals to help perpetuate the Faulkner Scheme, including the seven other individual defendants in this case that actively defrauded, or otherwise participated in schemes to defraud, investors The Faulkner Scheme involved the unregistered and fraudulent offer and sale by Faulkner-controlled entities of working interest investments (“investments”) in more than 20 oil and-gas prospects in several states. According to the complaint, Faulkner conducted three versions of this core fraud, using Breitling Oil and Gas Corporation (“BOG”), Crude Energy, LLC (“Crude”), and Patriot Energy, Inc. (“Patriot”) to offer the investments. According to the complaint, Faulkner drafted confidential information memoranda (“CIMs”) and marketing brochures provided to prospective investors in BOG, Crude, and Patriot offerings that were replete with material misrepresentations and omissions. According to the complaint, Dustin Michael Miller Rodriguez (“Miller”) helped perpetrate the fraud in all three iterations, while Parker Hallam did so with BOG and Crude. In these capacities, they directed the firms’ sales efforts.
Investors in Breitling Energy Corporation, Breitiling Oil & Gas Corporation, Crude Energy, LLC, Patriot Energy, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you purchased your Breitling Energy Corporation, Breitiling Oil & Gas Corporation, Crude Energy, LLC and/or Patriot Energy, LLC investment from a licensed financial advisor, Goodman & Nekvasil, P.A. can help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has filed hundreds of cases against brokerage firms selling high-risk or fraudulent investments such as Breitling Energy Corporation, Breitiling Oil & Gas Corporation, Crude Energy, LLC, and Patriot Energy, LLC and has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of your Breitling Energy Corporation, Breitiling Oil & Gas Corporation, Crude Energy, LLC and/or Patriot Energy, LLC investment.
If you incurred losses on your investment in Breitling Energy Corporation, Breitiling Oil & Gas Corporation, Crude Energy, LLC and/or Patriot Energy, LLC and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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