Oil Migration Group, LLC, Wavetech29, LLC, GilmanSound, LLC and Paul Gilman – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Oil Migration Group, LLC, Wavetech29, LLC, GilmanSound, LLC and Paul Gilman
The Securities and Exchange Commission announced fraud charges against musician Paul Gilman and his companies, alleging that nearly all of the money they raised in securities offerings went to fund Gilman’s lavish personal spending in Las Vegas and California.
The SEC’s complaint charges Gilman used his companies – Oil Migration Group LLC, WaveTech29 LLC and GilmanSound LLC – to fraudulently solicit retail investors, including a nurse, a minister, and a businessman. Gilman, a self-dubbed “Whale Whisperer” who produced and starred in a documentary of his encounters with whales, claimed to be developing a revolutionary “soundwave” technology that would transform the oil and gas industry. According to the complaint, Gilman told OMG and Wavetech investors that he would use their funds to test, validate, further develop, and license the soundwave technology for use in oil and gas industry applications, and he promised the investors substantial profits. Instead, Gilman is alleged to have used substantially all of the investor funds for his personal benefit, including to pay for luxury Las Vegas hotels, restaurants, designer clothing, and large cash withdrawals at casino ATMs. Gilman also allegedly defrauded investors in GilmanSound, a company he claimed would revolutionize sound systems in sport stadiums.
According to the complaint, from 2013 through 2016 (the “Relevant Period”), Defendants raised at least approximately $3.3 million from approximately 40 investors located in Texas and other states. According to the complaint, that money is gone, and the investors (excluding Ponzi payments) received nothing in return.
Investors in Oil Migration Group, LLC, Wavetech29, LLC and/or GilmanSound, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you purchased your Oil Migration Group, LLC, Wavetech29, LLC and/or GilmanSound, 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 Oil Migration Group, LLC, Wavetech29, LLC and/or GilmanSound, 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 Oil Migration Group, LLC, Wavetech29, LLC and/or GilmanSound, LLC investment.
If you incurred losses on your investment in Oil Migration Group, LLC, Wavetech29, LLC and/or GilmanSound, 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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