News Releases

Oct 14
2019

Austin Investment Adviser Revoked for Fraud

Texas Securities Commissioner Travis J. Iles revoked the registration of George A. “Gus” Marwieh , who fraudulently sold more than $5 million in pension-linked investments and real estate development notes to clients without disclosing his excessive commissions, misuse of client funds, and...

Oct 8
2019

Investor Alert: Private Oil and Gas Offerings

Oil and gas investments are highly speculative, complex in their financial structure, and full of jargon that’s nearly impossible for a layperson to understand. For investors whose primary goal is saving for retirement, oil and gas offerings can carry significant risks.

In the past four...

Sep 25
2019

Texas Order: Oil and Gas Promoter Offers Repayment to Investors

Jason A. Gilbert , the CEO of a New York-based energy company who last year was ordered to stop committing fraud in connection with an offering of unregistered investments in a multi-million-dollar oil and gas project, has made a full rescission offer to investors.

Texas Securities...

All News Releases

Enforcement Actions: Administrative

Oct 11
2019

Order No. IC19-REV-05

In the Matter of the Investment Adviser Registration of Marwieh Advisory Services LLC and the Investment Adviser Representative Registration of George Augustus Marwieh: Registration Revoked

Sep 20
2019

Order No. ENF-20-CDO-1789

In the Matter of Sourcerock Energy Phoenix Prospect LP; Sourcerock Energy GP LLC; Sourcerock Energy Partners LP; and J.A. Gilbert AKA Jason A. Gilbert: Agreed Cease and Desist Order; Rescission Offer

Sep 16
2019

Order No. ENF-20-CDO-1787

In the Matter of Kelcas Corp.; Kelcas Ohio River Oil LLC; HOK Global Consulting PTE Ltd. AKA HOK Global Consulting PTD Ltd.; Wilhelm B. Lilliehook; and Hok-Lam Chan AKA Hok Lam Chan: Emergency Cease and Desist Order

All administrative actions

Enforcement Actions: Criminal & Civil

Oct 4
2019

Charles McAllister: Convicted

A jury in U.S. District Court in Austin on Oct. 4 convicted Charles McAllister , the former CEO and owner of the Austin-based precious metals firm Bullion Direct Inc. , of two counts of wire fraud and one count of engaging in a monetary transaction with criminally derived property.

...

Jul 17
2019

Daniel Christopher Walsh: Indicted (Harris County)

A Harris County grand jury indicted Daniel Christopher Walsh July 17 on first degree felony charges of securities fraud, money laundering, and theft in connection with the sale of investments in oil wells that were supposed to be drilled in Galveston County.

The indictments were handed...

Jul 12
2019

Daniel Christopher Walsh: Sentenced, 18 Years

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...

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