Contact: Joe Rotunda, Director of Enforcement, at jrotunda@ssb.texas.gov
On Nov. 22, 2019, the Texas Securities Commissioner entered three Emergency Cease and Desist orders against Timeless Protect LLC. The emergency actions accuse Timeless Protect of illegally, deceptively and fraudulently offering investments in oil and gas programs that are purportedly guaranteed by its Cash Back Program.
As described in the emergency actions, the company is allegedly enrolling investors in the Cash Back Program, depositing their funds in a trust account, commingling those funds with money obtained from other sources and concealing material information regarding its management and use of principal.
Timeless Protect allegedly claims funds will be available to pay returns to investors regardless of the profitability of the oil and gas investments or the solvency of the parties. The orders entered against Timeless Protect and associated companies are:
Order No. ENF-CDO-20-1792, In the Matter of U.S. Energy Assets LLC; Texas Victory Joint Venture; Timeless Protect LLC; Raymond Leslie Boykin; Mark Taylor; Duane Lee; Sunil Joseph AKA Joseph Sunil; and Paul James: Emergency Cease and Desist Order
Order No. ENF-CDO-20-1794, In the Matter of Rare Earth Exploration LLC; Helium Hunters; Bradley Sherman Haycraft; Timothy P. Taylor; Bill Webber; Timeless Protect LLC; Duane Lee; Sunil Joseph AKA Joseph Sunil; and Paul James: Emergency Cease and Desist Order
Order No. ENF-CDO-20-1795, In the Matter of Travco Oil and Gas LLC; Travis Jordan; Tom Darcy; Timeless Protect LLC; Duane Lee; Sunil Joseph AKA Joseph Sunil; and Paul James: Emergency Cease and Desist Order
Please contact the Enforcement Division if you invested with an oil and gas company from Texas and enrolled in the Cash Back Program from Timeless Protect on or after Sept. 1, 2019, or if you have any information related to the company.
Contact: Joe Rotunda, Director of Enforcement, by electronic mail at jrotunda@ssb.texas.gov, or you can contact the agency’s attorneys and examiners by telephone at 512-305-8392.