Investors in Breitling Energy may have lost their investment but are not without recourse to recover their losses. The misdeeds and mismanagement of Breitling Energy are things that the investor’s brokerage should have spotted if sufficient due diligence was done. Investors seeking more information can call toll-free 1-866-817-0201 for a free consultation.
The thinly veiled fraud was recently exposed by the SEC that reasonable investigation should have exposed previously. The Breitling Energy fraud includes interlocking companies, bad science, fake financials and an massively effective public relations campaign that turned a tech entrepreneur with a shaky record, Breitling CEO Chris Faulkner, into the “Frack Master.”
But the complaint implies that the scheme that took years of planning and execution, but basic components of the fraud were easily discoverable, such as the background of Faulkner and the tens of millions of dollars stolen by Faulkner.
The SEC account starts in 2009 when Faulkner ran a website data hosting company. At that point, “he had never managed, run, operated, or even worked in an oil-and-gas business.”
Despite this, many brokerage firms either ignored this information or failed to uncover such an important piece of information for its investors.
The Law Offices of Jeffrey Pederson, PC has helped investors recover losses for the failure of due diligence by securities brokerage firms. Please call the number above for more information.
For more information on the Breitling Energy fraud see the following link.