{"id":4869,"date":"2018-02-17T19:38:29","date_gmt":"2018-02-18T01:38:29","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4869"},"modified":"2022-03-22T15:07:38","modified_gmt":"2022-03-22T20:07:38","slug":"texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/","title":{"rendered":"Texas Securities Cases: Two Dallas Men Ordered to Halt $4M Oil and Gas Offering Amidst Fraud Allegations, DavorCoin is Barred from Offering investments, and Austin Cryptocurrency Investment Firm is Told to Stops Securities Sales"},"content":{"rendered":"<h2><strong>State Regulator Orders Cessation of $4M Oil and Gas Offering<\/strong><\/h2>\n<p>In an Emergency Cease and Desist Order, the Texas Securities Commissioner has ordered Parker R. Hallam and Jason A. Gilbert, two Dallas residents, to stop their efforts to raise $4.4M in an oil and gas offering. The two men are accused of fraud allegations.<\/p>\n<p>Hallam and Gilbert have been offering investors interest in a well project that would be based in Kansas. They reportedly intend to take $1M of investor funds as a management fee payment to SourceRock Energy Phoenix Prospect LP, which is the company that they do business as. Meantime, the rest of the funds would go toward leasing and building the well field. The two men have not, however, told investors that drilling costs are estimated to be at just around $750K.<\/p>\n<p>Hallam also is accused of failing to tell investors that in 2016, the US Securities and Exchange Commission sued him and others over their alleged involvement in an $80M oil and gas fraud. Also, according to the Texas securities regulator, Gilbert failed to disclose that the Internal Revenue Service previously filed $548K in tax liens against him. The government agency also filed liens against Hallam, who has yet to pay nearly $143K of what he owes.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/#more-4869\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>State Regulator Orders Cessation of $4M Oil and Gas Offering In an Emergency Cease and Desist Order, the Texas Securities Commissioner has ordered Parker R. Hallam and Jason A. Gilbert, two Dallas residents, to stop their efforts to raise $4.4M in an oil and gas offering. The two men are accused of fraud allegations. Hallam [&hellip;]<\/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":[3738,4047,3750],"tags":[2946,2973],"class_list":["post-4869","post","type-post","status-publish","format-standard","hentry","category-investor-fraud","category-oil-and-gas-claims","category-texas-securities-fraud","tag-cryptocurrency","tag-texas-securities-cases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Texas Securities Cases: Two Dallas Men Ordered to Halt $4M Oil and Gas Offering Amidst Fraud Allegations &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"The Texas Securities Commissioner has ordered two Dallas residents, to stop their efforts to raise $4.4M in an oil and gas offering.\" \/>\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\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas Securities Cases: Two Dallas Men Ordered to Halt $4M Oil and Gas Offering Amidst Fraud Allegations &#8212; 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Investor Lawyers Blog","twitter_description":"The Texas Securities Commissioner has ordered two Dallas residents, to stop their efforts to raise $4.4M in an oil and gas offering.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Texas Securities Cases: Two Dallas Men Ordered to Halt $4M Oil and Gas Offering Amidst Fraud Allegations, DavorCoin is Barred from Offering investments, and Austin Cryptocurrency Investment Firm is Told to Stops Securities Sales","datePublished":"2018-02-18T01:38:29+00:00","dateModified":"2022-03-22T20:07:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/"},"wordCount":737,"keywords":["Cryptocurrency","Texas Securities Cases"],"articleSection":["Investor Fraud","Oil and Gas Claims","Texas Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/","url":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-two-dallas-men-ordered-halt-4m-oil-gas-offering-amidst-fraud-allegations-davorcoin-barred-offering-investments-austin-cryptocurrency-investment-firm-told\/","name":"Texas Securities Cases: Two Dallas Men Ordered to Halt $4M Oil and Gas Offering Amidst Fraud Allegations &#8212; 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