Petroforce Energy, LLC, William D. Veasey, IV, Javier Alvarado, Jr., and Ivan J.A. Turrentine – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Petroforce Energy, LLC, William D. Veasey, IV, Javier Alvarado, Jr., and Ivan J.A. Turrentine
A Texas company and its president have agreed to pay nearly $300,000 to settle charges by the Securities and Exchange Commission related to an oil-and-gas offering fraud. The SEC also charged two senior salespeople as unregistered brokers in the transactions underlying the fraud.
According to the SEC’s complaint, filed on July 24, 2017 in the U.S. District Court for the Western District of Texas, Austin-based Petroforce Energy, LLC and its founder and president, William Veasey, raised nearly $3.9 million from approximately 80 investors in four fraudulent oil-and-gas offerings. The SEC alleges that Petroforce Energy, LLC and Veasey provided investors with offering documents and other materials that contained false and misleading statements about the investments. The documents allegedly misrepresented the nature and extent of certain operational problems that affected an early offering and understated drilling costs and overstated the profitability of the wells. The SEC also alleges that the offering materials misstated the timing and nature of tax benefits associated with investing in the offerings.
The SEC also alleged that Ivan Turrentine and Javier Alvarado, two sales agents employed by Petroforce Energy, LLC and Veasey to offer and sell joint-venture and limited partnership interests to investors, and Veasey acted as brokers in Petroforce Energy LLC’s securities transactions. The SEC alleges that Veasey, Turrentine, and Alvarado solicited prospective investors and earned money as a result of sales made to the investors.
Investors in Petroforce Energy, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Petroforce Energy, LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, 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.
If you incurred investment losses in Petroforce 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.