October 25, 2016
Southlake Resources Group, LLC, Cody M. Winters, Nicholas R. Hamilton
SANCTION AMOUNT: $5,891,412
Defendants: Southlake Resources Group, LLC
Cody M. Winters, Nicholas R. Hamilton
Settlement with Texas company and its President and Vice President for alleged oil and gas fraud raising approximately $5.2 million in sales of interests in 12 joint ventures to more than 70 investors over approximately four years. Offering documents allegedly misrepresented the use of investment proceeds, contained unsubstantiated projections, and overstated expected costs. Other alleged fraudulent conduct included undisclosed profit taking and discounts to certain investors.
- Key Docs
- Official SEC press release