{"id":4291,"date":"2017-04-19T15:26:14","date_gmt":"2017-04-19T20:26:14","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4291"},"modified":"2017-04-19T15:26:14","modified_gmt":"2017-04-19T20:26:14","slug":"sec-charges-texas-oil-gas-promoter-securities-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-texas-oil-gas-promoter-securities-fraud\/","title":{"rendered":"SEC Charges Texas Oil and Gas Promoter With Securities Fraud"},"content":{"rendered":"

\t\t\t\tThe US Securities and Exchange Commission is charging Matthew Fox and his Wayne Energy LLC with securities fraud. The regulator brought its Texas securities case <\/a>in federal district court in the city of Sherman. <\/p>\n

According to the Commission\u2019s complaint, Fox raised about $950K for a joint venture that was supposedly involved in reworking and recompleting an oil and gas well. However, contends the SEC, Fox raised the funds by recycling offering documents from another oil and gas company that he previously ran (that company failed) rather than customizing the paperwork to this new venture and its specific risks. <\/p>\n

Prior to setting up Wayne Energy in 2015, Fox had run Frisco Exploratory Company and it is the latter\u2019s offering documents that he used. The Commission claims that the offering documents made a false statement, which was that Wayne Energy would not commingle its own money with the joint venture\u2019s funds. The documents also falsely stated that the oil and gas company was licensed as an operator with the Texas Railroad Commission.<\/p>\n

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

The US Securities and Exchange Commission is charging Matthew Fox and his Wayne Energy LLC with securities fraud. The regulator brought its Texas securities case in federal district court in the city of Sherman. According to the Commission\u2019s complaint, Fox raised about $950K for a joint venture that was supposedly involved in reworking and recompleting […]<\/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":[4047,3801,3760,3741,3750],"tags":[],"class_list":["post-4291","post","type-post","status-publish","format-standard","hentry","category-oil-and-gas-claims","category-sec","category-sec-enforcement","category-securities-fraud","category-texas-securities-fraud"],"yoast_head":"\nSEC Charges Texas Oil and Gas Promoter With Securities Fraud — Investor Lawyers Blog — April 19, 2017<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission is charging Matthew Fox and his Wayne Energy LLC with securities fraud. The regulator brought its Texas — April 19, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-charges-texas-oil-gas-promoter-securities-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Charges Texas Oil and Gas Promoter With Securities Fraud — Investor Lawyers Blog — April 19, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The US Securities and Exchange Commission is charging Matthew Fox and his Wayne Energy LLC with securities fraud. 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