| Treaty Energy Workers Criminally Charged |
| Tue, December 16, 2014 |
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Treaty Energy - it's a licensed oil exploration operation in Belize, but we caught their drift very early on when they started sending out fantastical claims about bogus oil discoveries in early 2012. There was no truth to it, but the press releases were apparently calculated to drive up Treaty's share price.
Now, the Securities and Exchange Commission has come down on the company. News reports out of New Orleans Louisiana say that Federal regulators on Monday charged five officers at a New Orleans oil and gas exploration company with lying about striking oil in Belize in order to drive up the price of the company's stock, which was then illegally sold to investors.
The company's Houston attorney was also charged with helping facilitate the stock-trading scheme.
The Securities and Exchange Commission has filed a complaint in Texas Federal Court, accusing Treaty of putting out false press releases claiming drilling success in Belize and Texas to ramp up interest in unregistered stock.
It's consequential in Belize because Treaty Energy Belize is an oil exploration company that operates under the umbrella of Princess Petroleum.
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