{"id":1501,"date":"2014-08-18T20:38:44","date_gmt":"2014-08-18T20:38:44","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/08\/sec_files_charges_in_45m_houst"},"modified":"2022-03-11T13:24:11","modified_gmt":"2022-03-11T19:24:11","slug":"sec-files-charges-in-45m-houst","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-files-charges-in-45m-houst\/","title":{"rendered":"SEC Files Charges in $4.5M Houston-Based Pump-and-Dump Scam"},"content":{"rendered":"

\t\t\t\tThe SEC has filed charges against Chimera Energy, a Houston-based penny stock scam<\/a>, and four individuals for their purported involvement in a pump-and-dump scam that made over $4.5 million in illicit proceeds. Investors were led to believe that the company was creating technology that would allow for oil-and-gas production that was environmentally friendly.<\/p>\n

The regulator claims that Andrew I. Farmer set up Chimera Energy and secretly got control of all the shares issued in an IPO. He then set up a promotional campaign to hype the stock, touting technology that would extract shale oil without fracking. <\/p>\n

In the alleged Texas securities fraud<\/a>, Chimera Energy claimed that an entity named China Inland gave it an exclusive license to develop and commercialize the non-hydraulic extraction technologies. The SEC says that China Inland is not a real company and that Chimera Energy had no such technology or even a license. <\/p>\n

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

The SEC has filed charges against Chimera Energy, a Houston-based penny stock scam, and four individuals for their purported involvement in a pump-and-dump scam that made over $4.5 million in illicit proceeds. Investors were led to believe that the company was creating technology that would allow for oil-and-gas production that was environmentally friendly. The regulator […]<\/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":[3977,3760,3750],"tags":[],"class_list":["post-1501","post","type-post","status-publish","format-standard","hentry","category-pump-and-dump-scams","category-sec-enforcement","category-texas-securities-fraud"],"yoast_head":"\nSEC Files Charges in $4.5M Houston-Based Pump-and-Dump Scam — Investor Lawyers Blog — August 18, 2014<\/title>\n<meta name=\"description\" content=\"The SEC has filed charges against Chimera Energy, a Houston-based penny stock scam, and four individuals for their purported involvement in a — August 18, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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