Breitling Energy Corp fka BECC

[FM II]

Breitling missed a deadline.
https://www.sec.gov/alj/aljorders/2016/ap-4052.pdf

[mackfish]

Scam? Criminal? Hold up on that. Obummer just traded his BECC shares for Higgins and Sellecks
estate in Hiwawyah

[jonsmile]

I knew this was a scam and ceo was a criminal

[Voices of Reason]

Update on SEC actions to revoke the listing of BECC:
https://www.sec.gov/alj/aljorders/2016/ap-4006.pdf

[mackfish]

Agreed. Did Breitling make a fatal mistake in believing the vomit some posted here?

[reaper247]

Thanks for keeping the board current on relevant information regarding the SEC investigation.

IMO and FWIW.

[mackfish]

With the FBI involved, any open assets will be frozen. I don't think any toxic lender will be interested. He should Ask Kramer, if not already a fait accompli

[FM II]

Perhaps not so serious for Faulkner. He has a couple of inactive corporations in Wyoming just sitting there to be used in the next venture.

Somehow I feel that the below-referenced website is about to get much more sophisticated. Grand Mesa was created in 2007, so I guess Faulkner has been in the real estate business for nine years. May I introduce Real Estate Master? I am sure CNBC will be interviewing him about the global real estate markets.

Someone should create a Grand Mesa board in anticipation of the IPO.

http://grandmesainvestments.com/

[mackfish]

Dang. This shows how serious it is when the FBI take the lead from the SEC investigation. Thanks and stay on top of this. Price of Yugos going up

[FM II]

For what it's worth:

[Renee]

BECC SEC Admin Proceeding for Financials / Filings delinquencies. The SEC will move to revoke Breitling Energy Corp.s stock registration.

https://www.sec.gov/litigation/admin/2016/34-78288.pdf

[mackfish]

Nothing wrong with buying your own shares and re pocketing the cash, as long as SEC doesn't frown. Heck, you cab even borrow other folks reserves- temporarily

[laraz5]

Wonder if Faulkner is still buying on the open market?

Wonder if his ankle bracelet interferes with his trading platform?

IMO

[mackfish]

No problem trading. The Yugo guy will scarf up all the "cheapies"

[Voices of Reason]

Trading suspension is lifted today...look for a 90%+ drop....assuming it trades at all...

[FM II]

I am not experienced in the underbelly of stock trading. Is there, in fact, a reverse merger that turned into a viable company?

With regard to reaper's steadfast reliance on insider trading filings, isn't the SEC claiming Faulkner covered up his trades?

I have to assume that one could make money off even a grifter's company by timing trades. Anyone ever done that consistently? Did it involve promoting the stock on investorhub.com?

[FM II]

I will say one thing for hindsight, a lot of news organizations should be feeling very stupid right now. Here is an article by Reuters. It is full of nonsense. The 3D seismic could influence recovery factor is just babble. With hindsight, I seriously doubt Breitling ever controlled 200 thousand mineral acres.

http://www.reuters.com/article/us-breitling-ipo-idUSBRE9610OM20130702

[MilltoBill]

Any idea on Criminal charges?

Keep in mind the SEC is civil only...

[Voices of Reason]

For those afraid to ask "what's next?": http://investorshub.advfn.com/boards/read_msg.aspx?message_id=123541753

[johnny46]

Victory is sweet.

[dustywest]

Inside an $80 million scam: The SEC's story of Dallas' Breitling Energy

http://www.dallasnews.com/business/energy/20160627-inside-an-80-million-energy-scam-the-sec-s-story-of-dallas-breitling-energy.ece

[Voices of Reason]

Birds of a feather...the genesis of this company (BERX) was doomed to repeat itself: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70707445

[FM II]

First email I sent telling a reporter to take a closer look was July 2013. No real hindsight in my case. You even commented on some of my 2014 posts. Unfortunately. no one who had contact with CF bothered to ask a few simple questions.

I think it was 2013, I called Breitling and was handed off to the president of Crude, Hallem, I think. I asked how many wells they operated and he told me I should call Joe Simo for that information. Big red flag when the President of Crude didn't seem to know that they didn't operate any wells.

Unfortunately, like you, a lot of people evaluated BECC by the number of politicians CF had lunch with and how many times he appeared on cable news. (Actually, I don't know that you evaluated BECC, your motivation for denying reality is unknown to me.) In the past year, everything you have said of any substance proved false, including your crowing about BECC successes. Now you want to cover your dumbassery by blaming others and changing the subject. You were warned and you still didn't bother to check. You bothered to post absurdities, though.

You were wrong at every turn and that was with multiple warnings laying out exactly what was wrong, no evidence of experience and exaggeration of experience. Now, I will admit, that the SEC has more resources than me including the possibility of getting someone to roll on CF so they came up with things I didn't know about, but some I suspected. I didn't mention all my suspicions because I go by evidence. Unfortunately, that is one thing you have little interest in.

You were wrong in a big way and you have spent a year saying some of the dumbest things about BECC like, somehow, you knew something about it.

I'm sorry, but you spent the last year begging for an "I told ya so."

A lot of the things the SEC brought up I had no way of proving so I didn't say anything. I did, in a crystal clear way, state that I thought that CF was exaggerating his experience in a big way.

Interestingly, the SEC made a big deal of Crude Energy and Patriot being effectively the same company. I just assumed that was a non-issue because it was so obvious that it was.

...and "integrity of share structure" still has me stumped.

One of the reasons I have stuck around is to counter the silly things you said, hoping that a few people would do their own research and question the validity of BECC. That and you kept saying I was wrong when I was not.

Literally days ago you were trying to convince people that Breitling began in 2004.

[johnny46]

I think in the next upcoming weeks the SEC might be the least of some of their problems

[johnny46]

Breitling offices have been raided and shut down as of May 3rd.

[tdbowieknife]

Chris Faulkner and his gang of cons are clearly pieces of shit. Federal criminal fraud charges would be very appropriate. I'm sure the FBI and DOJ are working on that.

20 years sounds about right...

.


Buyer Beware


Grey Market


..

[The_Free_Nebula]

Nasty....

[tdbowieknife]

Good... BECC will take quite a hit when trading resumes, typically 50% to 90% drop the first day of trading from the price of the day of suspension.

.


Buyer Beware


Grey Market


..

[The_Free_Nebula]

No need for luck...been out for a while now....

[dustywest]

SEC says Chris Faulkner of Dallas-based Breitling Energy used fraud to fund 'lifestyle of decadence and debauchery

http://www.dallasnews.com/business/headlines/20160624-sec-says-chris-faulkner-of-dallas-based-breitling-energy-used-fraud-to-fund-lifestyle-of-decadence-and-debauchery.ece

[I-Glow]

You posted, "Wrong again FM 11". It seems he was accurate with everything he posted about BECC.

Wrong again FM 11,

The Patriot Energy company that you are linking to has nothing to do with Breitling Energy. It is a different company entirely.

For stock traders, it would be a complete waste of time to DD that company.

For the anti-fracking buffoons and failed traders who have been following this board, who are willing to publically and/or privately harass Breitling, their shareholders, their investors and their partners, I would hope that you would not use incorrect information posted on a message board, as a reason to justify harassing a company that has no connection or relationship with Breitling Energy.

It is amazing so much bad information could be squeezed into one post.

IG

[tdbowieknife]

Investors should try and get back what they can when BECC resumes trading on the Grey Market Monday July 11th as this is surly toast. The volume won't last long, few weeks, and then little to nothing. You may also need to call the order in as some brokers do not allow online trading of Grey Market stocks.

Some info from the SEC.

https://www.sec.gov/investor/alerts/tradingsuspensions.pdf

Good luck.



.


Buyer Beware


Grey Market


..

[MilltoBill]

I wonder if the SEC will seek to recover all the picante sauce that was given out to the board member, or if they will reserve that for the FBI and their civil asset forfeiture that is forthcoming.

[FM II]

I am sure a lot of people have lost interest in BECC, but for me it is a new phase of interesting.

[The_Free_Nebula]

Wow

[FM II]

TD,
Thank you for posting a picture of my floating rig. ...no wait, I think I have been reading to much Faulkner. (Chris, not Bill)

[tdbowieknife]

Falkner looks like a Ron Blackburn understudy. He too oversold interest and even interest in wells they had no interest in. All production was of course extremely exaggerated and many time there was none at all, and of course there is the fake Belize oil strike. Nobody gets paid and all money disappears into the gangs coffers.

..

[FM II]

I would suggest everyone thinking about investing in the oil industry read the complaint. The SEC claims Faulkner et al engaged in every common oil scam I can think of. There was a variation of selling more than 100% of a well that I had not seen before.

After you read it once, go back, read it again and think about what you would have to know in order to detect the fraud. If you are widely experienced in the oil business the suspicious circumstances are obvious. If you are a layman, it might be difficult to spot them.

I never saw any of promotional material or deal descriptions, but what the SEC describes is definitely not standard for the industry, a real big red flag, but only if you know what is standard.

[tdbowieknife]

News....

https://www.sec.gov/litigation/complaints/2016/comp-pr2016-130.pdf


.


Buyer Beware

Grey Market


..

[FM II]

I think some didn't understand my mild sarcasm. It is really my fault because I assume people have been following this board for awhile and that may not be the case.

It was Reaper247 that used the term "integrity of the share structure."

BTW, that is what I mean by protecting the integrity of share structures. Avoiding toxic debt, CDs, dilution, etc.

I don't really know what share structure means, but it doesn't seem to be a great thing in this case.

[FM II]

Yes, but Breitling did file for a drilling permit in October,which obviously proved I was wrong about them going dark.

Moreover, because the Patriot prospects were subject
to the same continuous drilling and interlocked obligations as Crude, at least half of the Patriot
prospects sold to investors have reverted back to the original landowner, leaving these investors
with no interest in the prospects in which they invested

OK, I'll stop. I know people can read the complaint for themselves.

[FM II]

Yes, but Faulkner "protected the integrity of the share structure."

During a three-month window from December 2014 through February 2015, Faulkner engaged
in heavy daily trading in BECC’s stock through at least two nominee accounts in the names of
Steedley and Range Quest Resources (a private entity Faulkner owned and controlled). To fund
this trading, Faulkner routed hundreds of thousands of dollars from BECC to these two nominee
accounts. These transfers were sourced by investor funds provided to Crude. He “marked the
close” on BECC’s stock by initiating hundreds of small lot orders at or near the close of normal
trading hours, oftentimes establishing the day’s highest trading price at the end of the day.
Faulkner’s trading was done in an attempt to manipulate BECC’s stock price and trading
volume, and helped create the false impression that investors unaffiliated with the company were
trading in the stock

[MilltoBill]

cant believe these frauds kept getting on CNCB / CNN etc

Shows how much checking these network do.

I guess Reaper will be on CNBC next week wearing a neck tie discussing buying fraudulent oil & gas companies on the 'cheap'

[FM II]

As soon as BOG began offering investments in oil-and-gas prospects, Faulkner
misrepresented his education, experience, and background. He claimed to have earned master’s
and doctorate degrees from universities, which he had not. He represented that he had extensive
and diverse experience “in all aspects of oil and gas operations,” when he had no such
experience. In fact, his only exposure to the oil-and-gas industry was through website data
hosting work he and his prior company, C I Host, performed for oil-and-gas companies. Yet, he
promoted himself as an expert in the oil-and-gas industry, even branding himself as the “Frack
Master.” He also paid a public relations firm to promote him and to book appearances on
television and radio shows

At this point I suspect that this claim by the SEC is materially correct. I have never stated it so bluntly, because I could not prove it. Perhaps the SEC has more info than I.

I looked up the date of the first emails I sent to newspapers and to Breitling itself inquiring about their experience. It was in mid 2013.

Yes, reaper, I don't know anything about trading penny stocks, but I do know a little about the petroleum business.

[scion]

SEC Charges “Frack Master” With Running an $80 Million Oil and Gas Fraud

FOR IMMEDIATE RELEASE
2016-130

SEC Complaint
https://www.sec.gov/litigation/complaints/2016/comp-pr2016-130.pdf

Washington D.C., June 24, 2016 — The Securities and Exchange Commission today charged four companies and eight individuals in an $80 million oil and gas fraud orchestrated by a Dallas man who calls himself the “Frack Master” for his purported expertise in hydraulic fracturing.

The SEC charged Chris Faulkner – the CEO of Breitling Energy Corporation (BECC) and recurring guest on CNBC, CNN International, Fox Business News, and the BBC to discuss oil-and-gas topics – with disseminating false and misleading offering materials, misappropriating millions of dollars of investor funds and attempting to manipulate BECC’s stock. The SEC also charged BECC and suspended trading in BECC’s securities for 10 business days.

According to the SEC’s complaint, Faulkner started the scheme dating back to at least 2011 through privately-held Breitling Oil and Gas Corporation (BOG), which offered and sold “turnkey” oil and gas working interests. Faulkner ran most of BOG’s operations, while co-owners Parker Hallam and Michael Miller oversaw the sales process. The SEC alleged that BOG’s offering materials contained false statements and omissions about Faulkner’s experience, estimates for drilling costs, and how investor funds would be used. The SEC further alleged that the offering materials included reports by licensed geologist Joseph Simo that included baseless production projections and failed to disclose his affiliation with BOG. The scheme evolved to include BOG’s successor, BECC, a reporting company with shares traded on OTC Link and two affiliated entities, Crude Energy LLC and later Patriot Energy Inc. Faulkner allegedly established Crude and Patriot to deceive investors through offerings similar to those conducted by BOG. The complaint alleges that even though investors thought Hallam and Miller ran these two entities, Faulkner directed much of Crude’s and Patriot’s operations. The SEC alleged that BOG, Crude and Patriot raised more than $80 million from investors as part of these deceptive offerings.

The SEC alleged that Faulkner misappropriated at least $30 million of investor funds for personal expenses, including lavish meals and entertainment, international travel, cars, jewelry, gentlemen’s clubs, and personal escorts. The SEC alleged that Beth Handkins, a former employee of Crude and Patriot, Rick Hoover, the former CFO of BECC, and Jeremy Wagers, BECC’s general counsel and COO, all played essential roles in assisting Faulkner in the alleged fraud.

“Chris Faulkner allegedly orchestrated a sophisticated and multilayered scheme using BECC and its affiliated entities as a conduit to access millions of investor dollars,” said Shamoil T. Shipchandler, Regional Director of the SEC's Fort Worth Regional office. “The financing for Faulkner’s opulent lifestyle came directly at the expense of unwitting investors across the country.”

The SEC also alleged that Faulkner, Wagers and Hoover misrepresented various aspects of BECC’s operations in BECC’s public reports, including statements about the company’s financial performance, and its relationship to Crude and Patriot. In addition, while in the middle of perpetrating this fraud on investors, Faulkner engaged in a scheme to manipulate the price of BECC’s stock, with the assistance of former BECC employee Gilbert Steedley, by placing trades at the end of the day to “mark the close” of the stock.

The SEC charged Faulkner, Hallam, Miller, Simo, Handkins, BOG, Crude, and Patriot with violations of the antifraud provisions for their respective roles in the offering frauds, and charged BECC, Faulkner, Wagers, and Hoover with violations of the antifraud, reporting, recordkeeping and internal controls provisions of the federal securities laws. The SEC also charged Faulkner, Wagers, and Hoover with lying to auditors, and charged Faulkner and Hoover with violating certification provisions of the Sarbanes-Oxley Act. Faulkner faces additional fraud charges based on his alleged manipulation of Breitling Energy’s stock, and the SEC charged Steedley was charged with aiding and abetting Faulkner’s manipulative conduct.

Miller, Handkins and Steedley have offered to settle the Commission’s action against them on a bifurcated basis. Each will agree to full injunctive relief, including a conduct-based injunction for Miller, and will have the Court determine the appropriate disgorgement and civil penalties at a later date upon motion by the Commission.

The SEC’s investigation, which is continuing, has been conducted by Scott Mascianica, Ty Martinez and Melvin Warren and supervised by Eric Werner and David Peavler. The SEC’s litigation will be led by B. David Fraser and Mr. Mascianica.

###

http://www.sec.gov/news/pressrelease/2016-130.html

[FM II]

Faulkner and his co-Defendants duped hundreds of people out of millions of
dollars by intentionally and repeatedly lying about several aspects of the investments, including
the relationships between and among the Defendants, Faulkner’s industry experience, the nature
and operation of the investments, the estimated costs to drill and complete the prospects, the use
of investor proceeds, and the projected oil and gas production that investors could expect.

Told you so, reaper. (Sorry, I just had to say it.)

Not litigated yet, but I would say this is one of many red flags.

"Hey, Nero, do you smell smoke?"

http://www.breitlingenergy.com/portfolio-item/breitling-energy-ceo-chris-faulkner-cnn-international-june-2nd-2016/

[laraz5]

Who knew Brexit actually stood for Breitlings Exit from trading

Happy Halting

IMO

[flaflyersfan]

Great read;

https://www.sec.gov/litigation/complaints/2016/comp-pr2016-130.pdf

Good luck

[Renee]

BECC SEC Suspension:

https://www.sec.gov/litigation/suspensions/2016/34-78148.pdf

Order:

https://www.sec.gov/litigation/suspensions/2016/34-78148-o.pdf

Excerpt:

The Commission temporarily suspended trading in the securities of BECC due to a lack of current and accurate information about the company because it has not filed certain periodic reports with the Commission, and because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, its operations, revenues, and financial obligations.

[FM II]

Reaper, you are wrong.

There is no doubt that company did exist before the Articles of Incorporation were filed in Texas in 2009, because Breitling Oil and Gas was originally formed in Oklahoma.

I think one has to make some fairly bold assumptions for that to be true, assumptions that I think couldn't be more wrong.

First, you could define any company associated with CF as Breitling Oil and Gas. CF was associated with some 32 corporations and LLCs. If you use that definition, BECC goes back to the 1990s and definitely not formed in OK.

Second, if you think Southwest Energy Exploration is Breitling Oil and Gas, you would have to have a reason. At least I think so. Someone, anyone, can form up an LLC, apparently in a different state from one's residency or main office. There doesn't seem to be any requirement that an LLC do anything but keep current on filing, so there is no public evidence that a member of Southwest Energy Exploration, LLC did anything. CF probably did have some dealings in the oil business, but how would one know whether it had anything to do with Southwest Energy? So you are back to the first problem.

You could define Breitling Oil and Gas as any activity of CF or his partners in the oil business, then it goes back maybe 30 years.

I think, for simplicity, because it doesn't really matter, that we should assume that Breitling Oil and Gas came into existence when a company by that name associated with CF came into existence. That would be 2009.

Reaper, you have never explained why you think Southwest Energy Exploration is Breitling Oil and Gas, so I have to speculate as to why. I do know that CF agrees with you in a sense. He thinks Southwest Energy Exploration is the same as Breitling Energy Corp.

Chief Executive Officer
Breitling Energy Corporation
October 2004 – Present (11 years 9 months)Dallas, TX

https://www.linkedin.com/in/christopherfaulkner?authType=NAME_SEARCH&authToken=EGme&locale=en_US&trk=tyah&trkInfo=clickedVertical%3Amynetwork%2CclickedEntityId%3A11360468%2CauthType%3ANAME_SEARCH%2Cidx%3A1-2-2%2CtarId%3A1466609254603%2Ctas%3Achris%20faulk

I also know that LLCs are not required to have officers, but they can. So if the members elect CF CEO, then he is one. If they elect him high priest, then he is just that. Looks impressive on a resume, but it doesn't mean anything about his skills at business or finding oil