SEC Charges British Trader, Taher Suterwalla, With Making Over $3 Million in Illicit Profits Through Insider Trading Involving Call Options and Derivative “Spread Bets”

http://www.sec.gov/litigation/litreleases/2007/lr20224.htm

http://www.sec.gov/litigation/litreleases/2008/lr20718.htm

http://www.lawupdates.com/summary/ca_court_enters_judgment_against_british_trader_for_39m_in_petco_insider_tr/

http://www.businessweek.com/stories/2006-10-29/online-extra-a-steady-drip-of-buyout-leaks

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Couch Oil & Gas Under Investigation

Irving, TX. September 16, 2014.   Colt Ledger & Associates, Inc. has just completed an exhaustive investigation into the oil and gas drilling programs of Couch Oil & Gas, Inc. of Irving, Texas.  The results of that investigation have been compiled into a “Research Report” backed by apparently irrefutable facts that will lay the foundation for the complaints being filed with the SEC, FBI, USPS, IRS, USSS multiple State Securities, and prosecutorial agencies.

Couch Oil has over 1100 separate allegations filed against them, including but not limited to selling unregistered securities, general solicitation, wire fraud, money laundering, elder fraud, mail fraud, and bank fraud.

After searching the SEC’s Electronic Data Gathering, Analysis and Retrieval system, CLA was unable to confirm registrations for the project(s) in which CLA clients invested in.  It also appears that Couch Oil failed to license its agents with the Federal Government and/or in the states they were selling in, resulting in what appears to be illegally offering securities to numerous CLA clients.

After a thorough investigation, it appears that Couch Oil appears to have failed to properly vet CLA clients to ascertain if their offer(s) were suitable for the client. It seems that Couch Oil failed in discussing, uncovering or addressing clients with financial and investment goals, risk tolerance and/or current financial positions so as to understand or evaluate the clients suitability to participate in their offering(s).

On the subject of suitability, the SEC states that, “When your broker recommends that you buy or sell a particular security, your broker must have a reasonable basis for believing that the recommendation is suitable for you. In making this assessment, your broker must consider your income and net worth, investment objectives, risk tolerance, and other security holdings.”

The new FINRA statutes states in SR-FINRA-2010-039, rule 2111, that a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.

The investigation revealed that Couch Oil appears, according to authorities, to have violated U.S. Codes §1341: Frauds and Swindles and §2326: Enhanced Penalties for targeting a person over the age of 55, leaving them also open to §2327: Mandatory Restitution. By definition, elder fraud is an act targeting older adults in which attempts are made to deceive with promises of goods, services, or financial benefits that do not exist, were never intended to be provided, or were misrepresented. Financial exploitation is the illegal or improper use of an older adult’s funds or property.

It appears that Couch Oil also failed to disclose “material facts”, such as numerous documented violations of Securities regulations.

Couch Oil appears to have knowingly and willfully violated basic securities regulations that possibly led to criminal activity. Clients have provided Colt Ledger and Associates, Inc. with sworn affidavits stating that they were made promises by Couch Oil, and in turn, invested their money only to see little or no money in return.  Couch Oil appears to have fraudulently taken almost $5.3 million combined from 59 of Colt Ledger & Associates Inc. clients.

Colt Ledger & Associates has filed the complaints with the proper authorities, in which they will now handle the cases accordingly.The public is reminded that a complaint only contains allegations and is not evidence of guilt. Everyone is presumed innocent unless and until proven guilty.

Anyone having experience with Couch Oil, pro or con, is urged to contact Colt Ledger & Associates, Inc.

 

 

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Blue Ridge Group of Bowling Green, KY, Under Investigation

Bowling Green, Ky. September 4, 2014.  Colt Ledger & Associates, Inc. has just completed an exhaustive investigation into the oil and gas drilling programs of Blue Ridge Group of Bowling Green, Ky.  The results of that investigation have been compiled into a “Research Report” backed by apparently irrefutable facts that will lay the foundation for the complaints being filed with the SEC, FBI, USPS, IRS, USSS multiple State Securities, and prosecutorial agencies.

Blue Ridge Group has over 200 separate allegations filed against them, including but not limited to selling unregistered securities, general solicitation, wire fraud, money laundering, mail fraud, and bank fraud.

It appears that Blue Ridge, in filing the “Form D” 506 exemptions did so with full knowledge they would be furnishing “sales leads” to their telemarketing “boiler rooms,” indicating a willful intent to commit premeditated securities fraud.  The use of “general solicitation” means the securities were no longer exempt and were required to be registered.

Blue Ridge appears to have knowingly and willfully violated basic securities regulations that possibly led to criminal activity.  Clients have provided Colt Ledger and Associates, Inc. with sworn affidavits stating that they were made promises and in turn invested their money only to see little or no money in return.  Blue Ridge Group appears to have fraudulently taken almost $2.2 million combined from 13 of Colt Ledger & Associates Inc. clients.

Colt Ledger & Associates has filed the complaints with the proper authorities, in which they will now handle the cases accordingly.  The public is reminded that a complaint only contains allegations and is not evidence of guilt.  Everyone is presumed innocent unless and until proven guilty.

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Anthony Young Sentenced to 33 Months in Prison

PRESS RELEASE

Anthony Young Sentenced to 33 Months in Prison

Young receives short sentencing after scamming investors out of $20 million

 August, 20, 2014. Tompkinsville, Ky.-  U.S. District Judge Thomas B. Russell sentenced Anthony L. Young of Young Oil to 33 months in prison on Aug. 19 for scamming investors in Kentucky and Tennessee out of $20 million in three oil partnerships.

Young was facing up to 57 years in prison, but he only received 33 months because of a plea bargain to pay $1 million in restitution to more than 50 investors out of the 200 who invested in his company, $493,000 in back taxes to the Internal Revenue Service and assistance in helping prosecutors locate any property worth more than $5,000 that he transferred to third parties while running the investment scam.

Young scammed his investors out of $20 million, most of which he used for personal gain. He had a jet, a helicopter, a corvette and the biggest belt buckle he could find, to name just a few of his many expensive toys.

Young’s attorney, Fred Partin, requested that Young be placed in a treatment program while in prison. Judge Russell agreed to the request and suggested that Young be placed in a federal prison near his family.

Colt Ledger & Associates Inc. is representing 35 of the 200 investors Young scammed. Those at Colt Ledger feel that Young got off easy and that he is basically being paid to go to prison. According to Ledger, Young profited $18,507,000 from his scam after being ordered by Judge Russell to pay back only $1 million of the $20 million he scammed out of investors, and then the $493,000 in back taxes to the IRS.

The federal bankruptcy case against Young is currently pending.

If you have any questions or comments, please contact Colt Ledger & Associates, Inc. at 270-407-5041, or at coltledger@coltledger.com.

                                          ###

 

 

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High-Flying Anthony Young Crashes & Burns

Colt Ledger & Associates Inc.

A Licensed Private Investigation Firm

Our Mission:

To bring about justice, integrity, trust and fairness by leveling both public and private arenas, restoring the honorable principles and values on which America was founded by aggressively confronting corruption, fraud, and those who hold themselves above the law; to make wrongs, right by giving voice and action to the victims.

PRESS RELEASE

High-Flying Anthony Young Crashes & Burns

Anthony Young of Young Oil Faces 57 Years in Prison

 

March 18, 2014.  Tompkinsville, Kentucky.  Colt Ledger & Associates, Inc. representing 35 of the 200 investors defrauded out of $20 million by Anthony Young and his company, Young Oil, has successfully fulfilled its promise to its clients. Anthony Young has pled guilty and will be sentenced on July 17, 2014. It has taken 5 long years to fulfill this specific promise, but Anthony Young is now facing up to 57 years in prison.

Anthony Young, known affectionately as “Punk” for his mullet hairstyle, has been living life large on his investor’s funds.  He had a jet, a helicopter, a corvette and the biggest belt buckle he could find, to name just a few of his many, many expensive toys.  His investors, however, were constantly being told wild tales of becoming wealthy and many other lies by “Punk” and his alleged outlaw telemarketing staff of thugs, drug addicts and low life’s. This is an all too common characteristic for private placement investment offers.

Colt Ledger said, “The real tragedy here, aside from the victim’s plight, was the fact that the actual culprits that really brought about the wholesale destruction of so many families, the telemarketing trash of Young Oil, is not going to prison!  In fact, they have scammed the money from the Young Oil victims and are free to continue to ply their trade with the numerous oil and gas scams found throughout Kentucky and Tennessee. These unscrupulous thugs make their money, like a Boa Constrictor, they curl up next to the victims with verbal pictures of wealth and by the time the victim realizes it is all a lie, the Boa has wrapped itself around the victim and squeezed the financial life out of his victim.  These individuals have no empathy, sympathy, mercy or compassion for their victims.”

Andrew Wolfson of the Louisville Courier-Journal reported in 2011, “that Young was one of at least 29 Kentucky-based oil and gas men who had been sanctioned for fraud or other securities violations since 2004, and that six of them had been convicted of fraud and other crimes in federal courts.”

Wolfson reported, “Young’s plea was announced by U.S. Attorney David Hale and the case is being prosecuted by Assistant U.S. Attorney Bryan Calhoun. It was investigated by the Kentucky Department of Financial Institutions, the Internal Revenue Service Criminal Investigation Division, U.S. Postal Inspection Service and the Bureau of Alcohol, Tobacco, Firearms and Explosives.”

This is indeed a sad commentary for the State of Kentucky.  These “wrist slapping” securities penalties that are handed out so rarely by Kentucky Securities apparently only further encourage violations or send the violators scurrying over State lines so they can continue to prey on victims nationwide.  Kentucky appears to have failed to mount any substantial securities and criminal fraud prosecution in years. There have been hundreds, if not thousands of “scam wells” drilled in Kentucky with little or no legal recourse.

It is our opinion that the apparent, lackadaisical enforcement of securities and criminal fraud associated with the drilling of “scam wells” in Kentucky, appear, at least, in part to several out of state promoters moving their operations to Kentucky.

When contacted, a spokesperson for Colt Ledger & Associates, Inc. said they were anxiously awaiting the length of the sentence Mr. Young would receive given the extremely light and ineffectual sentence given by the Federal Court to the best known oil and gas fraudster in Kentucky, David Rose.  Mr. Rose, facing years and years in prison, received a sweet, 54 month deal and was ordered to pay back his victims $3 million dollars of the hundreds of millions he stole.  We have found no one who has ever received any money from this farcical deal despite David Rose’s immense wealth obtained through legally confirmed and documented fraud.

However, since the State of Kentucky has announced that it will not seek any funds from Mr. Young’s “estate” due to the fact that they do not wish to interfere with the “secured” creditor’s claims, it appears that the Feds and the State of Kentucky have no interest in the plight of Anthony Young’s victims.

When Colt Ledger & Associates, Inc. contacted the Federal Court’s Office of the Victim Advocate with regard to their client’s interest, they were told that the victim advocate’s office would deal only directly with the victims. It appears that we will have to wait for the sentencing and apparently the Office of the Victim Advocate to see just how the victims are directly dealt with.

Mr. Ledger explained that the founding reason he started his company, now the premier private investigation firm in the world that specializes in private placement securities and criminal fraud, was due to the fact that he felt that there should be someone directly opposing the con artist and his league of thugs who also possessed the same qualities found permeating these reprobates, that of no empathy, no sympathy, no mercy, and no compassion for them.

Mr. Ledger stated, “Our stated goal is simple; recover the money or put them in prison, and hopefully, their families under a bridge in a cardboard box! And, by God, we intend to do just that with every single one of these sorry SOB’s!”

Anthony Young is done, and now we move our investigations to Gary B. Smith, Charles and Robert Couch, Lora Langemeier, The Rose Family, Alan Murrell, John Seale, Timothy Burroughs, Jay Young, Steve Larkin, Bob Burr, Garry and Bill Stapleton, John Burness, and literally, a cast of thousands of others possibly involved in what might appear to be  ALLEGED private placement oil and gas, movie, real estate, mining, precious metals, Forex, pre-IPOs, technology, and various other scams. Of course, this is not an indictment against these fine people, it is our opinion expressed as possible allegations as yet not substantiated or confirmed by the proper authorities and all are to be considered innocent of all wrong doings until proven otherwise in a legal forum.

If you wish to find out more about Colt Ledger & Associates, Inc., contact them at coltledger@coltledger.com, or call 270-407-5041.

If you would like more information on Wolfson’s story on Young, click here to read more, or contact Andrew Wolfson at (502) 582-7189.

Also, visit the following for more information on Young’s case:

http://www.glasgowdailytimes.com/local/x787222695/Young-pleads-guilty-in-federal-court-to-numerous-charges

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Richard F. Neeley, Former Chief Justice of the WV Supreme Court Proves to be Legally Inept, Incompetent & Extremely Ignorant of WV Law

Charleston, WVIn a recent legal decision, United States District Court Judge, Joseph R. Goodwin took former Chief Justice Richard F. Neeley to Law School so to speak.  Judge Goodwin, in his final decision, appeared to infer, on numerous occasions, that Mr. Neeley was substituting his own personal opinion as well as a very faulty interpretation for the actual law.  Judge Goodwin dramatically struck down any and all arguments made by the apparently ignorant Mr. Neeley.  After the spanking Mr. Neeley received regarding the above mentioned case, one must wonder exactly what classes Neeley actually attended at Yale University.

It appears that Mr. Neeley has basically created not to mention filed a baseless lawsuit.  He then attempted to defend a position that was entirely frivolous from inception and apparently entirely void of any acceptable legal knowledge and/or basis. One can only surmise that actions such as these were possibly devised for the sole purpose of “milking” billing hours from Mr. Neeley’s extremely wealthy client, Ryan E. M. Cunningham, President of Cunningham Energy, LLC.  However, this line of thought could possibly lead someone to thinking that Neeley was conducting himself in an unethical manner. Yet Judge Goodwin never accused Mr. Neeley of such an infraction.

Mr. Ryan E. M. Cunningham and Cunningham Energy, LLC, are currently under investigation by Colt Ledger & Associates, Inc. the nation’s premier private investigation firm specializing in State and Federal Securities and Criminal Fraud.  CLA is investigating Cunningham for alleged Elder Financial Fraud, Money Laundering, Mail Fraud, Wire Fraud, etc., etc., etc.

Colt Ledger released the following statement, “It is my opinion, based on known facts which are at my disposal, that this lawsuit was the brainchild of Richard F. Neeley and his client, Ryan Cunningham as an attempt to threaten and intimidate a very dissatisfied Cunningham client. This seems to be an attempt to keep said client from expressing his total and complete dissatisfaction with Mr. Cunningham’s business practices.”

“Unfortunately, it is apparent that Mr. Cunningham placed entirely too much trust in his “legal monkey”. And the decision made by Mr. Cunningham to attack his own client has essentially backfired on Cunningham with the embarrassing performance displayed by Mr. Neeley.  Now they must face the filing of a massive number of State and Federal Securities along with Criminal Fraud complaints by Colt Ledger & Associates, Inc., against Ryan E.M. Cunningham and Cunningham Energy, LLC.

When inquired about Mr. Neeley’s court performance, Colt Ledger, owner of Colt Ledger & Associates, Inc. said, “If Neeley is the finest legal representation the Cunningham fortune can buy and the authorities decide to move on the alleged victim’s complaints, My only thought is I hope Mr. Cunningham likes orange.”

Mr. Neeley’s destruction and demise at the hands of Judge Goodwin was utterly complete.  This was clearly demonstrated by the court’s Conclusion, “For the reasons discussed above, the Defendants’ Motion to Dismiss [Docket 3] is GRANTED. The court ORDERS that judgment be entered in favor of the defendants and that this case be dismissed and stricken from the docket of this court.”  If you care to read Judge Goodwin’s decision visit coltledger.com for the complete ruling.

Mr. Ledger noted, “We have had interactions with attorneys such as Mr. Neeley on a couple of occasions.  These types of attorneys are likely the reason there are so many lawyer jokes.  However, Neeley, personally has proven himself to be extremely competent as well as ept at lying and distorting the truth. The fact that he has proven himself to be utterly useless regarding matters dealing with the law cannot be, in my opinion, surprising to anyone who knows him.  I, personally, am extremely happy that Mr. Neeley is on the other side of the table representing Cunningham.  Due to this the future of the alleged victims of Ryan Cunningham appears to be even brighter.”

Mr. Ledger did raise some personal concerns regarding the people of West Virginia, “However, in spite of Mr. Neeley’s laughable performance in court, I think that there is a much more significant not to mention potentially damaging consequences for the people of West Virginia with regard to Neeley.”

“Richard F.  Neeley is a retired Chief Justice of the West Virginia Supreme Court! Consider the implications of that fact when reviewing Judge Goodwin’s decision.  A Chief Justice of the West Virginia Supreme Court who appears completely ignorant of West Virginia law and its application!  Neeley is apparently, from what I interpret from Judge Goodwin’s decision, a person prone to whimsical interpretations of the law without rhyme, reason or legal basis.  Mr. Neeley appears to be making legal decisions based on nothing more substantial than a faulty thought process. I would think that the people of West Virginia are pleased and relieved that Mr. Neeley is gone. The next question that arises is how damage has Mr. Neeley perpetrated against the citizens of West Virginia?”

“If I was a resident of West Virginia and if Mr. Neeley was involved in any legal opinion or decision, as the Chief Justice of the West Virginia Supreme Court that went beyond what he put in his morning coffee, I, personally, would be immediately requesting a sweeping investigation into his tenure.”

In closing our interview, Colt Ledger stated, “Of course, all of my comments, herein, are simply my personal opinion. We will allow the proper authorities to decide if Mr. Cunningham should face any consequences for his alleged activities. However, always remember the fact that everyone is innocent until proven otherwise.”

 

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CLA files 968 allegations of fraud against KY Oil & Gas Company Petrotech Resources & John Burness

Colt ledger & associates inc. Files 968 allegations of security fraud, elder financial fraud, money laundering & many other alleged criminal activities against ky oil & gas promoter John Walden Burness, Petrotech resources corp.oration and others.

Colt Ledger & Associates, Inc., the country’s leading private investigation company specializing in private placement security fraud, has just completed an exhaustive investigation into the oil and gas drilling activities of Petrotech Resource Corporation. The results of that investigation have been compiled into a research report backed by seemingly irrefutable facts that lay the foundation for complaints currently being filed with the SEC, United States Secret Service, FBI, USPS, IRS, multiple State Securities, and prosecutorial agencies. Former Petrotech clients have provided extensive background information and offering materials regarding “cold calling,” the offer of elder finance fraud, mail fraud, wire fraud, money laundering, bank fraud, misrepresentation, and many more damning allegations.

Petrotech Resources Corporation is an oil and gas drilling program based in Glasgow, Kentucky. The company was founded in 2001 by owner John Walden Burness who has been named as the principal along with Jocquinna Wilkins Bailey, Brian Johnny Evans, Scott Peacock, Chad Pennington, Geologist Jack Wheat, CPA Shane Polson, Attorneys Jeff Herbert and Hunter Durham and others are named as aiding and abetting in the alleged securities and criminal fraud and criminal activity associated with the fraud.

The City of Edmonton in Kentucky, the Mayor, City Council and the City Attorney sitting at the time of an alleged, large scale “Bait and Switch” fraud scheme are also named as aiding and abetting Mr. Burness in allegedly defrauding investors from across the country.

To date, more than 40 Petrotech investors have submitted sworn affidavits to Colt Ledger, all telling the same story of cold calling, false investment promises, false production records, bait and switch projects, little to no monetary return, and flimsy excuses that fail to stand up under scrutiny. While this group of investors have allegedly lost several millions of dollars to John Burness, the total loses of all of the Petrotech investors is estimated to be, conservatively, in the 50 to 75 million dollar area. Not one single investor has come forward to say he/she has recouped their investment. In fact, the production records of projects involving clients appear to indicate that John Burness has never had a truly successful project despite documented claims of enormous success.

John did hit a big well $12 to $15 million, coincidently, there appears to have been only two investors. According to an interview with one of the “partners”, the second partner is dead and the one we spoke with says he has never received a cent from John Burness. In fact, he did not even know that the well had been hit!

In another project there appears to be a classic “Bait and Switch” tactic, Mr. Burness utilized a contract to supply natural gas to the City of Edmonton, Kentucky, to lure potential investors into, what some have termed, “the perfect scam”; natural gas production with a guaranteed buyer that would increase the market share in the future with “insider” connections to protect the status of the contract.

Mr. Burness presented in an introductory letter written to potential investors, “We have recently signed an agreement with the City of Edmonton, Kentucky, to supply them with natural gas. There is a 20% share of this market available to us, which amounted to $1.7 million dollars last year. City officials have indicated to us that we would be the supplier of choice. We have the opportunity to capture additional market share the next heating season”.

During the subsequent investigation, Colt Ledger & Associates, obtained a copy of the origional contract and soon discovered that John Burness was absolutely, knowingly and willfully misrepresenting the entire project. The contract revealed that, first; it was really nothing more than a one year non-binding agreement with no obligation to purchase any quantity of gas! Second, there was no 20% of anything mentioned! There was no $1.7 million market share started! There was no mention of higher market shares being available! There was absolutely no indication of John Burness being the “producer of choice”! In fact, there was no obligation to even renew the contract! It appears that John Burness willfully, intentionally and, possibly, criminally lured investors into nothing more than a con articulated to defraud investors.

As soon as John Burness had the investors’ money in the natural gas project with a guaranteed buyer; John Burness promptly switched them, under protest, to another project and drilled 5 dry holes.

Mr. Burness explained the move to the other project as, “We think that it’s in the best interest of the clients of the West Edmonton Development Program #2, and Petrotech Resources Corporation…. and geologist Jack Wheat recommended the move. Petrotech Resources presented the Don Wolf #3 as a significant find. They told investors that it came “blowing in” with accompanying DVD and geological report”. The investors were told, “Congratulations we hit oil this morning!!!!!”, “This is the first deeper test well on this new field that we recently leased, and we hit a Knox (most prolific formation) well with the very first one!”, and “This is extremely good news as we have a new virgin oil field.”

Please Note, two things, first the Don Wolf #3 did not have anything to do with the City of Edmonton deal, it was a diversion and the first step in a classic ‘bait and switch”, second, after all the fanfare, the Don Wolf #3, as reported to the State by John Burness,, never produced a single drop of oil and was plugged and abandoned 10 months after its completion. Everything appeared to be a lie intended to lure investors into fraudulent projects and wells by John Burness.

It has been estimated that less than 5% of the total income of these oil and gas drilling companies and their owners comes from actual oil and/or gas production. The majority estimates from 90% to 95% which comes directly from grossly over charging for the project and grossly under producing any measurable results.

­The Kentucky Supreme Court declared in a recent decision favoring Colt Ledger that: “It appears from the record that…Colt Ledger & Associates seeks to recover investment for its clients using, to put it mildly, highly aggressive collection techniques.” The public is reminded that a complaint only contains allegations and is not evidence of guilt. Colt Ledger & Associates, Inc. has filed the necessary complaints with the proper authorities and will let these authorities uncover the truth. Everyone is presumed innocent unless and until proven guilty.

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Welcome to the All-New ScamVent

Welcome to the all-new ScamVent! This goal of this forum is to be the primary place to go to find out:

  • If you may have been the victim of a scam
  • Discover if the investment you are considering may be being offered by someone who has red flags raised regarding previous practices

We encourage you to:

  • Search the forum for a company or individual that may be a concern to you
  • Participate in the forum by sharing your experiences
  • Check out our Scam Guide to see if you may have been scammed!

What’s New

ScamVent is no longer just a forum. We have completely redesigned it with a great new look and information you need to help you make wise investment decisions. We are also using a new forum software to make it easier than ever to participate.

Thanks for visiting!

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