Government & Regulatory | People | General News
SEC Goes After Breitling CEO; Alleges Faulkner Misappropriated Funds
Email
Print 
Bookmark
The SEC is going after Breitling Energy CEO Chris Faulkner, alleging that he used investor cash to fund his personal expenses, according to multiple reports.
According to a report by the Dallas Morning News, the SEC is alleging that Faulkner and several Breitling executives took advantage of investors to the tune of $80 million.
Faulkner's lawyer, Larry Friendman, responded to the allegations, commenting: "We were very surprised to see this today. To my knowledge, we have no investor complaints."
The SEC alleges that Faulkner lied about his educational background, fed potential investors inflated well production expectations and used investor money for personal expenses, including spending thousands of dollars at Dallas-area gentleman's clubs.
Related Categories :
People
More People News
-
ExxonMobil Brings On New VP / Treasurer
-
Coterra Names Jordan CEO; Dinges Takes Chairman Role
-
Evolution Petroleum Taps New President & CEO
-
Magnolia Oil & Gas CEO Chazen Steps Down; Cites Health Reasons
-
Devon Chairman Hager to Retire; Barbara Baumann Named to Top Spot
United States News >>>
-
Petrus Resources Ltd. First Quarter 2023 Results
4.jpg&new_width=60&new_height=60&imgsize=false)
-
Battalion Oil Corporation First Quarter 2023 Results
5.jpg&new_width=60&new_height=60&imgsize=false)
-
Amplify Energy Corporation First Quarter 2023 Results -
-
Denbury Inc., First Quarter 2023 Results
-
Evolution Petroleum Corporation Fiscal Third Quarter 2023 Results
