February 19, 2016- Dallas, TX
The Securities and Exchange Commission filed charges against Nathan Halsey, 35, of Dallas, TX and TexStar Oil, Ltd. charging them with fraudulently offering securities through misleading investment materials and keeping funds from investors who believed they were investing in an entirely separate company.
The SEC’s complaint, filed in the U.S. District Court for the Northern District of Texan on February 17, 2016, alleges:
- TexStar and its founder and CEO Halsey raised at least $1.1 million from investors in China and Southeast Asia in fraudulent securities transactions and distributed false promotional materials in an effort to raise more funds.
- These false promotional materials described a successful, asset-rich company that held no profitable oil-and-gas assets, never drilled or produced any wells, and never generated investor returns.
- Halsey invited Chinese investors to Texas, showed them an operating oil well owned by another company, raised funds for an alleged investment in that well, and then kept that money for TexStar, without telling investors.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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