When Oil and Gas Investment Fraud Lead To Financial Losses
Contact Our Skilled Texas Oil and Gas Investor Loss Attorneys Today
The US Securities and Exchange Commission (SEC) has filed a civil complaint against Clean Energy Technology Association Inc., Freedom Impact Consulting, LLC, and other defendants accusing them of raising $155M from more than 500 investors in an alleged oil and gas-related fraud. The securities regulator contends that allegedly false statements were made about the leasing of carbon capture units to big oil and gas producers. Investors were told they would be paid returns from the supposed revenues made from running these units. Now, the SEC is contending that the investment is a “sham.”
For over 30 years, our savvy Dallas oil and gas investment fraud attorneys have been representing clients throughout Texas and the United States who have suffered losses in these types of scams that they would not have invested in were it not for the unsuitable recommendation of their broker or investment adviser.
Common Red Flags Indicating A Possible Oil and Gas Scam (from the SEC):
- Oil wells are marketed as “Can’t-Miss” opportunities that supposedly guarantee high returns while being touted as “completely safe.”
- Sales pitches that latch onto a high-profile news headline related to oil or gas.
- The oil and gas investment was brought to your attention through an unsolicited source.
- An oil and gas opportunity is marketed as supposedly “limited” and you might miss out unless you invest now.
How Can Our Experienced Texas Oil and Gas Investment Fraud Attorneys Help?
Oil and gas investments are generally risky investments and they are typically inappropriate for conservative senior investors, inexperienced retirees, and retail customers. As a matter of fact, significant investment losses can happen, as was evidenced in 2020 when COVID-19 caused prices to plunge.
Oil and gas investments are alternative investments and not everyone understands what they involve or how investor losses can happen. Headquartered in Texas, which is home to some of the largest oil companies, Shepherd Smith Edwards and Kantas (investorlawyers.com) have been helping investors to pursue financial recovery from the broker-dealers whose negligence, due diligence failures, unsuitable investment recommendations, misrepresentations and omissions, overconcentration, and failure to supervise their financial advisors caused investors to lose a lot of money in these arenas.
An oil and gas investment may involve stocks, drilling programs, limited partnerships, futures contracts, royalty interests in wells, or other features. While gone are the days when people would flock to these types of investments in the hopes of “getting rich quick,” we cannot tell you how many times we’ve been approached by an investor who was blindsided by the serious losses they incurred in an oil and gas investment.
Should we determine that your brokerage firm should be held liable, and we agree to work together, our team of seasoned investment fraud attorneys, legal assistants, and consultants will build a solid claim on your behalf, file your oil and gas fraud lawsuit, and fight for your financial recovery.
To schedule your free, no-obligation case consultation with one of our Texas oil and gas investment loss attorneys, call (800) 259-9010 today. You can also contact us at our Dallas securities law office at (214) 613-5306 or our Houston securities law office at (713) 227-2400. Shepherd Smith Edwards and Kantas represent oil and gas investors throughout the US. More than 90% of our clients have received full or partial financial recovery with our help.