Ponzi scheme graphic Credit: rudall30/Adobe Stock $7.8M Texas Ponzi: SEC Wants Injunction Against Alleged Oil and Gas Scheme
"Bailey misappropriated nearly $4.1 million for personal expenses and additionally misused over $900,000 for unauthorized purposes, including nearly $670,000 of undisclosed Ponzi-like payments to other investors," the SEC complaint alleges.
September 26, 2023 at 02:43 PM
4 minute read
Securities Litigation
The Securities and Exchange Commission is requesting an injunction and disgorgement order against a former Arthur Andersen accountant accused of securities violations and running a Ponzi scheme in the oil and gas industry.
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