Category Archives: Iowa Insurance Division

Carson Energy / Austin Texas Residents Named In Iowa Oil & Gas Securities Fraud Action

August 28, 2015

Iowa Insurance Commissioner Nick Gerhart issued a cease and desist order to the following Austin, Texas residents:

  • Carson Energy, Inc.                           
  • Earl Carter Bills II    
  • Anthony Weber
  • Jerrold S. Rothouse    

The order alleges that Iowans have been defrauded out of more the $2.1 in connection with the sale of unregistered oil & gas investments. The Iowa Insurance Division assists Iowans who have been the victim of insurance or securities fraud.

The Statement of Charges filed in conjunction with the order alleges that Weber made a cold call telephone call to an Iowa citizen  and offered the chance to invest in an oil and gas project known as the Carson Energy Group Lucky #1 3D 2011. Following this were offers to invest in other oil and gas projects from Carson Energy, the Cardinal #1 3D 2011, the River Bend #1/ Hammock #1 3D 2012 and the 2011 S.W. Queensland, Australia Seismic Participation Joint Venture.

Damages of $2.1 million plus costs of over $14,000 are sought by the State of Iowa.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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