Articles Tagged with APEG Energy

Owners Accused of Misappropriating Nearly $2.7M from Investors

The US Securities and Exchange Commission (SEC) has filed a civil fraud lawsuit accusing APEG Energy, GP, LLC (APEG) and its owners Paul W. Haarman and Patrick E. Duke of fraudulently raising over $17.4M from 115 investors of an oil and gas investment fund. 

These investors purchased limited partnership securities in APEG Energy, LP, a fund concentrated in the oil and gas industry. Now, the SEC is alleging misrepresentations and omissions, breach of fiduciary duty, and a deceptive scam that allowed the Fund and its owners to take almost $2.7M from investors.