U.S. District Judge John McBryde recently ruled that defendant Gregory G. Jones, a Texas lawyer who pled guilty in a securities fraud case, is ordered to pay a combined total of $1,176,534 in disgorgement and prejudgment interest. As well in the recent final judgment, the judge ordered that the U.S. Securities and Exchange Commission be allowed to recover an additional $600,000 from Jones as a penalty, plus post-judgment interest.
Jones, who currently is not eligible to practice law in Texas according to the State Bar of Texas, was charged last June by the SEC for allegedly bilking his investors in relation to two securities offerings, one involving an oil and gas exploration venture and the other a fracking water filtration business deal. The case was filed against defendant Jones and Aquaphex Total Water Solutions in the U.S. District Court for the Northern District of Texas, Fort Worth Division. [See "Lawyer Disobeyed SEC Rules in Fracking Deal, Judge Rules," Texas Lawyer, Feb. 22, 2016.]
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