Colo. man ordered to stop selling unregistered oil, gas

A Colorado man has been issued a cease and desist order for selling unregistered securities in oil and gas industry via listings he posted on Craigslist.
Source:9news     Time:26 Oct 2015

A Colorado man has been issued a cease and desist order for selling unregistered securities in oil and gas industry via listings he posted on Craigslist.

The Colorado Division of Securities, part of the Department of Regulatory Agencies, said it issued a cease and desist order to Bighorn Energy and its sole principal, Jimmy Howe of Elizabeth, Colorado, for the sale of unregistered securities by an unlicensed representative.

The securities in question were for oil and gas investments, which often draw interest from investors because of their reputation as lucrative "get rich quick" opportunities, according to the Securities Commissioner Gerald Rome.

In the settlement agreement, Rome alleged that Howe was soliciting investors through Craigslist in both Texas and Colorado through advertisements where Howe claimed that investors would "help finance a proven oil well in the Texas Panhandle" and returns could "easily be 58.3 percent on an annual basis."

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