February 24, 2017
Harrison Schumacher, Quantum Energy LLC, Quaneco LLC
SANCTION AMOUNT: Approximately $13.5 million
Defendants: Quantum Energy LLC, Quaneco LLC
Defendants defrauded more than 300 investors nationwide in purported investments in oil-and-gas projects, raising more than $12 million in six unregistered offerings. Contrary to representations, funds that were supposed to be used for exploration and development of oil-and-gas resources were diverted to cover corporate business overhead, Schumacher's compensation, and for personal expenses.
- Key Docs
- Official SEC press release