The Securities and Exchange Commission filed suit in federal court in Dallas Friday, alleging four men defrauded more than 100 investors out of $5.5 million in a bogus oil and gas company promotion.
In 2009 and 2010, the SEC said, Jason A. Halek of Southlake, Texas and Patrick J. Booths of Fort Worth offered unregistered working interests in oil and gas projects that were owned and operated by Halek’s company, Halek Energy, LLC.
The interests were offered to investors by Joshua D. Spivey of Morristown, Tennessee and Steven J. Little of Southlake, Texas.
“Through this alleged scheme, Halek and the other defendants sold more than $5.5 million in Halek Energy oil and gas working interests to more than 100 investors nationwide,” the SEC said.
The SEC said the defendants falsely claimed that other companies owned the oil and gas projects. But all the projects were set up and owned by Halek Energy and controlled by Halek and Booths, the SEC said.
Spivey and Little each received large commissions or other compensation from promoting and selling the working interests for Halek and Halek Energy, according to the complaint.
Booths was also well compensated for his role in the alleged scheme, the SEC said.
Halek Energy collapsed into bankruptcy in 2011.