Category Archives: Oil & Gas Investment

Alternative Investments, Energy Securities, Kalos Capital, Madison Avenue Securities, Oil & Gas Investment, Oil and Gas Partnerships, Reg D Offerings(private placements), Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Steven Netzel-Former Kalos Capital Broker-Discloses Pending $300K Customer Dispute-Sun Lakes, AZ

February 2020 – Sun Lakes, AZ

The FINRA records of Steven M. Netzel  , a stockbroker  who is currently not registered and who previously was employed by Kalos Capital , disclose  a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In March of 2012, Arizona Corporation Commission Securities Division issued sanctions, and fined Netzel $10,000 to resolve allegations that he sold unregistered securities.

In 10/2019 FINRA case #19-02921 was filed by a customer of  Netzel’s previous employer – Kalos Capital, Inc.  alleging unsuitable recommendations in oil & gas, real estate and other private equity and alternative investments. Damages of $300,000 are sought.

Netzel  was employed with Madison Avenue Securities  from June 2019 until August 2019.   He was with Kalos Capital, Inc. from November 2013 until June of 2019.   Prior to that he was with Madison Avenue Securities from 2/2009-12/2013.

Netzel discloses business affiliations with Netzel Financial, dba Affordable Supplemental, Inc. , Netzel Holdings LLC and Val Vista Capital Management  in Sun Lakes, AZ.

If you have questions about an account handled by Steven M. Netzel  call for a no charge consultation with an experienced securities attorney .

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Energy Securities, Michigan Securities Regulator, Oil & Gas Investment, Oil & Gas Royalty Trusts, Oil and Gas Partnerships, Oil related investments, Stockbroker Malpractice, Texas State Securities Board, Unregistered Brokers, Unregistered Securities

Michael Patman Subject of TX Securities Regulators Investigation Over Woodland Resources-Fort Worth, TX

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Energy Securities, Failure to Supervise, Fraud, Oil & Gas Investment, Stockbroker Malpractice, Unsuitable Investments

Cardinal Energy Group Investors May Have Been Misled & Have Claims for Recovery

May 2019 – Dallas, Texas

In March 2019, the Securities and Exchange Commission charged Texas based Cardinal Energy Group (CEGX) and former CEO Timothy W. Crawford with fraudulently concealing the loss of the company’s major source of revenue. SEC v Timothy W. Crawford, et al , No 19-civ-1022 (S.D. Ohio). 

According to the SEC complaint, Cardinal lost control of its interest in two oil and gas leases that accounted for nearly all of the company’s revenue, however, rather than disclosing this event to investors Cardinal and Crawford misrepresented the fact that the leases were still expected to be a part of the company’s future business.

Cardinal and Crawford are charged with various violations of the Securities Acts of 1933 and 1934 and the complaint seeks injunctions, disgorgement, civil penalties and a penny stock bar.

Financial advisors and brokerage firms are required to make suitable recommendations to investors, taking into account the age, health, net worth and risk tolerance of the individual.

If you have suffered losses on an investment in Cardinal Energy Group as a result of the recommendation of your financial advisor, contact us for a no charge consultation to learn about your legal options for recovery of damages.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Arete Wealth Management, Berthel Fisher and Company, Oil & Gas Investment, REITs, StockBroker Misconduct, Unsuitable Investments

Alvery Bartlett- Former Berthel, Fisher & Co. Broker-Discloses Customer Suits Seeking $10M+-St. Louis, MO

September 2019 – St. Louis, MO

According to publicly available records  Alvery Anthony Bartlett, Jr. (CRD#13975), a stockbroker who is currently employed by Arete Wealth Management and who previously worked for Berthel, Fisher & Company Financial Services (BFCFS) disclose one prior prior and 3 currently pending customer disputes.

The Financial Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms.   FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions.   In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In December of 2014, a Berthel Fisher customer filed FINRA case #14-03867 alleging they were sold unsuitable investments and that they were victims of misrepresentation.    The case settled for $25,000 with $5,000 of the settlement being paid by Bartlett.

In currently pending FINRA Case 19-1843, a customer of Berthel Fisher is seeking damages of between $1.7 million and $3 million and alleges that Bartlett sold the client unsuitable investments, including Oil & Gas deals, REITs and business development companies. The customer alleges that Berthel Fisher and Bartlett failed to perform adequate due diligence.

In currently pending civil case #A -18-767962 filed in Clark County, Nevada state court , a customer of Berthel Fisher alleges that they were sold unsuitable oil and gas limited partnerships, private placements and hedge funds and is seeking damages of  $6.6 million.

In another currently pending matter, FINRA case #17-03515,  filed in 1/2018 , a Berthel Fisher customer that they were sold unsuitable oil and gas limited partnerships and real estate investments and is seeking damages of $3.9 million.

Alvery Bartlett was with Berthel, Fisher & Company Financial Services, Inc. from 1/1992-8/2016. He has been employed by Arete Wealth Management since 8/2016. Bartlett discloses business affiliations with Alvery Bartlett Fund Management, Alvery Bartlett Fund Distribution, Alvery Bartlett Wealth Management, Alvery Bartlett Group, all located in St. Louis, MO.

If you have questions about an investment account handled by Alvery Bartlett, contact us for a no charge consultation to learn about your legal options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Energy Securities, Limited Partnerships, Misrepresentation, Oil & Gas Investment, Oil and Gas Partnerships, Oil related investments, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

All American Oil & Gas Inc. Losses? How to Recover Damages

November 2018, San Antonio, TX

All American Oil & Gas Inc. and its subsidiaries, Kern River Holdings Inc., and Western Power & Steam Inc.  filed for Chapter 11 Bankruptcy on November 12, 2018. According to the company press release, the bankruptcy filing was “due to an ongoing dispute with its secured lenders”. 

All American Oil & Gas Inc. , through its subsidiary Kern River Holdings Inc. is the largest private oil and gas producer in the Kern River Oil Field, located in the San Joaquin Valley of California. 

Investors in limited partnership units, high yield (junk) bonds, notes and stock issued by All American Oil & Gas who have suffered losses may be able to recover damages from the brokerage firm or financial advisor who made the recommendation. 

If you have suffered losses, contact us for a no charge consultation. 

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870