SEC
Whistleblower
Advocates

September 30, 2016

Paul R. Downey, Jeffrey P. Downey, John M. Leonard

Offering Fraud

SANCTION AMOUNT: $7,207,385

Defendants: Paul R. Downey, Jeffrey P. Downey, John M. Leonard

Sanction against orchestrators of fraudulent oil-and-gas investment scheme. Defendants sold nearly $5 million of fund interests to 17 investors but, among other issues, they omitted mention of a receivership involving entities with which they and the fund's general operating partner (which they owned/controlled) were involved, and the appurtenant significant risk to the fund.

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