{"id":1369,"date":"2014-01-06T17:00:32","date_gmt":"2014-01-06T17:00:32","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/01\/sec_stops_texas_securities_sca"},"modified":"2022-03-11T08:55:05","modified_gmt":"2022-03-11T14:55:05","slug":"sec-stops-texas-securities-sca","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-stops-texas-securities-sca\/","title":{"rendered":"SEC Stops Texas Securities Scam Involving Oil and Gas Investments"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission has filed securities charges and ordered an asset freeze against Janniece S. Kaelin and Robert A. Helms, who are both accused of running a Texas-based Ponzi scam <\/a>involving purported investments in oil and gas projects. The regulator contends that Kaelin and Helms misled investors about their industry experience, even as they raised close to $18 million for what was supposed to be royalty interests in oil and gas. The SEC says that the two of them used most of the money to run a Ponzi scam and pay for business costs and personal spending.<\/p>\n

Per the Commission’s complaint, Helms and Kaelin started offering investments through Vendetta Royalty Partners in 2011. They brought in at least 80 investors from numerous states. <\/p>\n

In offering documents, they promised that over 99% of investment proceeds would be used to obtain a solid portfolio filled with oil and gas royalty interests. Instead, claims the regulator, the Kaelin and Helms put in only 10% of this money in the projects. The result was very small returns.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission has filed securities charges and ordered an asset freeze against Janniece S. Kaelin and Robert A. Helms, who are both accused of running a Texas-based Ponzi scam involving purported investments in oil and gas projects. The regulator contends that Kaelin and Helms misled investors about their industry experience, even as […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3760,3750],"tags":[],"class_list":["post-1369","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-texas-securities-fraud"],"yoast_head":"\nSEC Stops Texas Securities Scam Involving Oil and Gas Investments — Investor Lawyers Blog — January 6, 2014<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission has filed securities charges and ordered an asset freeze against Janniece S. Kaelin and Robert A. 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