News Releases

Jul 12
2019

Galveston Oilman Sentenced to 18 Years for Defrauding Investors

Daniel Christopher Walsh , a Galveston oilman who made money by keeping investor funds in his pockets – not in the ground, drilling wells –was sentenced to 18 years in state prison on July 12 after reaching a plea agreement in his fraud trial in Wichita County.

Walsh pleaded guilty to...

Jul 11
2019

Gusher of Debt: Texas Oilman Concealing Bankruptcies, Fraud, Sanctions

In soliciting Texans for investments in oil wells promising annualized returns of up to 70%, Michael E. Patman of Woodland Resources LLC is touting his decades of earning profits for investors through oil and gas drilling programs.

Patman’s public record, however, shows a gusher of debt...

Jul 10
2019

Clear Enough? Houston Adviser Fined for Violating Plain Language Rule

Grove Capital Management Inc . paid a $5,000 fine and has been ordered to improve its compliance procedures after failing for eight years to use a form designed to provide disclosures to clients in plain language.

Texas Securities Commissioner Travis J. Iles on July 9 entered a...

All News Releases

Enforcement Actions: Administrative

Jul 10
2019

Order No. ENF-19-CDO-1783

In the Matter of Woodland Resources LLC; Woodland Operating LLC; AKA WY Woodland Operating LLC; Michael E. Patman; Jeremy Bryan Yowell AKA JB Yowell; and Brett Kroh: Emergency Cease and Desist Order

Jul 9
2019

Order No. REG19-CAF-05

In the Matter of the Investment Adviser Registration of FRA Wealth Management LLC: Fine, Reprimand

Jul 9
2019

Order No. IC19-CAF-03

In the Matter of the Investment Adviser Registration of Grove Capital Management Inc.: Fine, Reprimand

All administrative actions

Enforcement Actions: Criminal & Civil

May 1
2019

Danny Ray Digman: Indicted

Danny Ray Digman , who served time in state prison in the early 2000s for operating a fraudulent investment program based on the revenue from mobile ATMs in Central Texas, was indicted May 1 in Randall County on multiple felony charges for allegedly perpetrating the same ATM fraud in the Texas...

Mar 12
2019

William Neil Gallagher: Indicted

William Neil “Doc” Gallagher , who promoted his investment business on Christian radio and in books like “Jesus Christ, Money Master,” was arrested March 8 on first-degree state felony charges of securities fraud and money laundering in Dallas County. Prosecutors disclosed the arrest on March...

Feb 19
2019

Christopher Matthew Meredith: Indicted

Christopher Matthew Meredith was indicted Feb. 19 in the U.S. District Court for the Western District of Texas on charges that he defrauded individuals in Brenham who invested in a company Meredith said would open medical marijuana dispensaries in conjunction with the federal government....

All civil & criminal actions

Publications

Salute to Smart Investing cover

A Salute to Smart Investing

To help active military members achieve financial security, Salute covers investment "basic training," retirement planning, avoiding scams – and much more

 

It's Your Financial Life cover

It's Your Financial Life

Young workers of the world, invest! Your Financial Life cuts through the thicket of financial jargon and products as you begin managing your own finances.

All publications