Wednesday, June 3, 2009
SEC Crushes Ant
"The [SEC] has filed a civil suit accusing Colorado Springs-based Wellco Energy and four employees of fraud. The complaint says the founder and three salesmen raised more than $1 million in the last year by selling investors fractional interests in oil and gas wells", Houston Chronicle, 17 May 2009.
A whole million dollars. Wow. I wouldn't be surprised if $1 million of fraud takes place on Wall Street every hour.