September 2019 -Fort Worth, Texas
The Texas State Securities Board (TSSB) announced that unregistered investment promoter Jeremy “JB” Yowell is cooperating with the Enforcement Division of the State Securities Board in its investigation of Woodland Resources LLC and its director Michael E. Patman.
According to the TSSB release, earlier this year Yowell promoted an investment offering by Woodland Resources, soliciting Texas residents to purchase working interests in oil wells in Seminole County, Oklahoma.
A TSSB emergency order alleges that Patman is violating the Texas Securities Act by failing to disclose that he previously headed two companies that went into bankruptcy and that he owed over $13 million to investors who successfully sued him for fraud.
Yowell was previously sanctioned by Michigan regulators for acting as an unregistered agent selling investments for a commission of up to 20% of the value of the securities sold.
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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