An arbitration claim seeking damages for investments in several oil & gas drilling prospects (Sterling Wolfberry, Sterling Tyler & Bull Moose Prospect) promoted by Guardian Direct Energy Programs, was filed by Rex Securities Law on behalf of an 80 year retiree from South Florida naming Guardian’s President and CEO Ricky Douglas Mullins, and three former registered representatives Christopher N. Fili, James R. Richards and Robert S Stewart.
The Securities & Exchange Commission filed civil securities fraud charges against Mullins and Guardian Oil & Natural Gas, Inc. in April 2014, alleging that they failed to disclose the deteriorating financial condition of the company, lied to investors about how invested dollars had been spent, and used investor funds intended for one prospect on unrelated projects.
The claim alleges breach of fiduciary duty, common law fraud, violation of Florida securities statutes, un-suitablity and that the respondent’s placed him in a private placement investment when he was not a qualified accredited investor.
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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