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Blackburn and Mulshine surprising not at all wonder if Alonzo changed his name!
SEC Charges New Orleans-Based Energy Company and Executives With Fraudulent Stock Manipulation
Houston-Based Attorney Charged With Facilitating Scheme in Gatekeeper Role
FOR IMMEDIATE RELEASE
2014-281
Washington D.C., Dec. 15, 2014 — The Securities and Exchange Commission today charged a New Orleans-based oil-and-gas company and five executives with running a stock trading scheme in which they claimed to have struck oil in Belize in order to manipulate the price of the company’s stock as they illegally sold restricted shares to the public.
The SEC also charged a Houston-based attorney with facilitating the scheme by issuing false legal opinion letters that allowed free trading of the restricted company stock.
According to the SEC’s complaint filed in U.S. District Court for the Eastern District of Texas, Treaty Energy Company issued deceptive press releases touting drilling successes in Belize and Texas to induce investor demand for its unregistered stock, which was then illegally distributed to the public. The SEC alleges that Treaty Energy’s founder Ronald Blackburn and four company officers – Andrew V. Reid, Bruce A. Gwyn, Lee C. Schlesinger, and Michael A. Mulshine – obtained at least $3.5 million in illicit profits from the scheme.
“Treaty Energy professed to be in the oil-and-gas business, but its real business seems to have been misleading investors,” said David Peavler, Associate Director for Enforcement in the SEC’s Fort Worth Regional Office. “These company officers were behind press releases and SEC filings announcing drilling successes that were simply falsehoods designed to deceive the market and put investor money into their own pockets.”
The SEC’s complaint further alleges that Treaty Energy’s outside counsel Samuel Whitley abused his gatekeeper role and enabled the scheme by authoring improper legal opinion letters that allowed the company and its officers to illegally distribute unregistered stock to the public. Whitley was aware that Blackburn was running the company and Treaty Energy was abusing registration rules under the federal securities laws. Yet these facts did not deter him from issuing the opinion letters that allowed the scheme to proceed.
“This case highlights the importance of gatekeepers in the sale of securities. Attorneys and other gatekeepers have an obligation to stop frauds, not enable them by turning a blind eye,” said David Woodcock, Director of the SEC’s Fort Worth Regional Office.
According to the SEC’s complaint, the scheme had three basic components. The first part began in January 2012 when Blackburn directed Treaty Energy to issue a press release claiming that its purported oil strike in Belize contained an estimated five to six million barrels of recoverable oil. Treaty’s stock price shot up nearly 80 percent that day. However, the Belize government publicly refuted Treaty Energy’s purported oil strike the very next day, calling the company’s statement “false and misleading” and “irresponsible.” The SEC alleges that despite Belize’s denial, Blackburn and the company’s officers continued to mislead investors by claiming that Belize was merely downplaying an actual oil strike for strategic reasons.
The SEC alleges that the second part of the scheme entailed Treaty Energy’s failure to disclose in public filings from 2009 to 2013 that Blackburn – previously convicted of federal income tax evasion – actually controlled the company and was a de facto officer. The SEC alleges that Reid, Gwyn, Schlesinger, and Mulshine all knew Blackburn’s true role at the company, but intentionally kept this fact out of its disclosures to conceal from the public that a convicted felon was in charge.
According to the SEC’s complaint, the final part of the scheme got underway in November 2013 when Treaty Energy began offering investors working interests in a well in West Texas. Investors were enticed with claims that the working interests were low-risk and expected to yield a return of 111.42 percent over a 10-year period. The SEC alleges that Treaty Energy and its officers knew these claims were baseless because the well was producing only marginal amounts of oil. In fact, the well produced 235 total barrels from October 2013 to October 2014.
The SEC’s complaint charges Treaty Energy, Blackburn, Reid, Gwyn, Mulshine, and Schlesinger with securities fraud as well as violations of the registration and reporting violations of the federal securities laws. The SEC seeks disgorgement of ill-gotten gains with prejudgment interest plus financial penalties as well as penny stock bars, officer-and-director bars, and permanent injunctions against them. Reid and Gwyn are additionally charged with signing false certifications in Treaty Energy’s SEC filings, and Whitley is accused of securities registration violations.
The SEC’s investigation was conducted by Samantha Martin, Keith Hunter, and Joann Harris of the Fort Worth Regional Office. The SEC’s litigation will be led by Jessica Magee.
Is Min-a Mar-Group back in town? Reverse away fellas!
.03 would be a nice get.
to da moon! Who the heck is messing around with this pos?
They don't have any of my money. I am well aware of how Blackburn operates and am working on warning others. I have information on Belize but have not found a connection to Costa Rica. I know many people that would be very interested in any if anybody has any.
Thanks
..
On Weyand and Blackburn's Costa Rica Oil and Gas deals. Be advised; one of these days very soon, the Feds are going to drop the hammer on Weyand and he'll be indicted. His past oil and gas schemes are catching up with him. Violating securities and exchange law in raising money from his past oil and gas "Shell Games". This deal with Blackburn is no different. While I don't have particulars, you don't need them. All you need to know is Weyand has a track record. No one ever gets his money back. Got it?
Who would throw 4.50 at this long dead POC?
Do you have anymore info on Blackburn and the Costa Rica Scheme?
..
Back in the day, I posted serval warnings about PBLS. I was on the ground at the pit and saw the corruption. I saw Blackburn and his Alonzo billing clients and keeping the money. I warned everyone. Now all that is left is the original dredge and the pit is empty. Blackburn moved on and teamed up with Richard Weyand in an oil and gas scheme out of Costa Rica. Weyand has solicited millions of investors money and only ONE out of hundreds have ever gotten their investment capital back. A sucker is born every day and that's what these predators count on! Keep those shares in PBLS as a reminder of your past experiences as to what NOT to do. LOL.
Don't worry it will turn around any day now. Lmao just kidding
no kidding,,, still some shares in my portfolio also,,, i look and laugh once in awhile and "remember' ,,, it's part of the ""learning curve""
Those were the days. I still have over 5 million shares of PBLS in my account just to remind me to avoid stocks with reclusive management and red flags waving in every direction.
I remember calling the Lear jet company when things were falling apart and they told me that PBLS officers took all their cash and accounts receivable and they were sitting in the dark with the electricity turned off.
We were warned but our greedy little little pea brains wouldn't let our fingers hit the sell button.
I now look at it as an educational experience.
Whirligig
This was my favorite stock of all times here on ihub back in the day. What wild dreams we all had of great wealth back then. Remember when the group from here went to visit the company with a video recorder. They let me edit the video to post here, I had Sammy Hagar (van halen) right now playing in the background while video and audio streamed showing the office, quarries, and even some mining. Does anyone here still have a copy of that video? I had hosted it on a personal web site at the time and that site is long gone along with the video now.
The good old days here on iHub!
Peorge
td no shyt SEC. but WTFDIK
10 day SEC suspension...
Way too late.
Whatever it is, I am just happy I see volume.
Is PBLS waking up? :)
Someone bought 3 million at .0001 or was it a sale?
Who wants to test if that 10k at .0001 is real lol.
Who wants to test if that 10k at .0001 is real lol.
200 dollars total in three trades. Someone clearing out their account maybe.
Waiting over two years now.
Tic Toc
Whats up with this 12 million shares bought at .0001?
Got that right!
MY guess is that all here are the real turkeys> LOL
lots of chatter recently about our "friend" rb on the TECO board lately.
It's great to have some sort of volume here but why?
Yes. This board is strictly for all the new developments with PBLS. There is hardly enough room for that. And please visit and donate to the "Maggie Moe need a sex change" board. He/She/It really needs our help.
this is some really good application of bagua, you could come over to my Synchronicity board where I post a lot of this stuff.
because I want to stop posting off topic over here.
This old grandmaster is 78 years old. Moves like water.
applications. This woman knows this art.
That's good stuff.....! :)
Hope you're doing great!!??!
BTW... Need a mobile website for anything?? I started messin' with building mobile websites!
I learned all this fun stuff by my lonesome over the last year and a half...... I LOVE IT!!! :)
MOBLEASY.COM
for you bigfootbud. I know you'll enjoy this hour spent.
Preposition
syllable
Still no sign of obituary, death certificate, or funeral proceedings for Charles Paul Alonzo J.R. anywhere!
Charles Paul Alonzo J.R. - United States Court of Appeals, Fifth Circuit Court -Opinion released August 14, 2013
I dont know how to post PDF file but the court found in favor of the Alonzo's and that E.H. Mitchell does not have legal ground for assets under bankruptcy protection. Basically, the bankruptcy courts decision stands.
You can go to www.ca5.uscourts.gov then go to the opinions page and read PDF. The opinion is posted today and you can search for it under case number 12-30694
RC, I am certain Paul and Carolyn's sons name is Adam Paul Alonzo.
RC, I think Paul's actual full name is Charles Paul Alonzo j.r. III.
RC, I thought his sons name is Adam. At least that is what his family tree reflects on several public records websites
I believe Charles Paul Alonzo, Jr is Paul's son. Someone please correct me if I'm wrong, but I seem to remember, at one time, his son Junior was put in charge of the Mitchell pit.
RC, Chilar, Just found this on the net posted today. If Mr. Alonzo has passed away he will have a hard time making this court appearance scheduled for Aug 5, 2013.
UNITED STATES COURT OF APPEALS
FOR THE FIFTH CIRCUIT
HOUSTON, TEXAS
The Court has scheduled the following cases for argument in the Courtroom of the Court of Appeals, Room 11-D, Bob Casey Federal Building, 515 Rusk Street, HOUSTON, TEXAS, on the days shown:
COUNSEL FOR EACH PARTY MUST PRESENT ARGUMENT UNLESS EXCUSED BY THE COURT. CASES MARKED * ARE LIMITED TO 20 MINUTES PER SIDE; CASES WITH NO * ARE LIMITED TO 30 MINUTES PER SIDE UNLESS PREVIOUSLY GRANTED ADDITIONAL TIME. “SIDE” REFERS TO PARTIES IN THEIR POSITION ON APPEAL. IF IN DOUBT, CONSULT THE CLERK'S OFFICE.
MONDAY, AUGUST 5, 2013 - COURT CONVENES AT 9:00 A.M.
No. 12-20514. United States of America vs. Charles Cannon; Brian Kerstetter; Michael McLaughlin, Appellants. (CLASS IV)
*No. 12-60087. Sigifredo Saldana Iracheta, Petitioner vs. Eric H. Holder, Jr., Etc.
*No. 12-30694. E.H. Mitchell & Co., LLC, Appellant vs. Charles Paul Alonzo, Jr., Et Al (and related cases).
*No. 12-51134. S.P. Pavilions, LLC, Etc., Appellant vs. Jo-Ann Stores, Inc., Etc.
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one year daily chart
________________________________________________________________________________________________________________________________________
CONVERSION FROM CHAPTER 11 TO CHAPTER 7
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF LOUISIANA
IN RE NUMBER
PHOENIX ASSOCIATES LAND SYNDICATE 09-11743
SECTION "B"
DEBTOR(S) CHAPTER
To Be Converted to
CHAPTER 7
ORDER CONVERTING PROCEEDING FROM
CHAPTER 11 TO 7
Considering the motion of PHOENIX ASSOCIATES LAND SYNDICATE to convert
Chapter 11 proceeding to Chapter 7 filed on July 30, 2009;
IT IS ORDERED that the proceeding filed herein by PHOENIX ASSOCIATES
LAND SYNDICATE on June 10, 2009, be and it hereby is CONVERTED to liquidation under
Chapter 7 of the Bankruptcy Code.
IT IS FURTHER ORDERED that PHOENIX ASSOCIATES LAND SYNDICATE
file a list of all obligations incurred during the Chapter 11 proceeding which remain unpaid.
Said list is to include each creditor's full name, complete mailing address, and the amount owing
and is to be filed with the Court together with an updated mailing matrix no later than AUGUST
17, 2009.
IT IS FURTHER ORDERED that PHOENIX ASSOCIATES LAND SYNDICATE
file with this Court and with the U. S. Trustee, no later than AUGUST 17, 2009, a financial
statement showing its operations during the Chapter 11 proceeding. Said financial statement is
to include a balance sheet and profit and loss statement together with a list of all assets.
09-11743
IT IS FURTHER ORDERED that should the debtor fail to comply with the foregoing
orders, citation for contempt and/or sanctions may be issued.
IT IS FURTHER ORDERED that the U. S. Trustee appoint a trustee in the converted
proceeding.
New Orleans, Louisiana, July 31, 2009.
_________________________
Jerry A. Brown
U.S. Bankruptcy Judge
Phoenix Associates Land Syndicate Chapter 11 BK Case No 09-11743 Filed June 10, 2009 Assets 0 (at this time) Liabilities $16,988,271.51
Bankruptcy Attorney
Claude C. Lightfoot, Jr. P.C.
424 Gravier Street Third Floor
New Orleans, LA 70130.
Phone: (504) 838-8571.
Fax: (504) 838-8572.
clightfoot@claudelightfoot.com.
www.claudelightfoot.com/
Phoenix Associates Land Syndicate, Inc.
504 Water Street Madisonville, LA 70447
http://www.pbls.biz/
________________________________________________________________________________________________________________________________
Ticker Symbol: PBLSQ
Share Count Information:
A/S: 2,875,000,000
O/S: 2,765,645,475
Restricted: 54,361,761
Standard Registrar & Transfer
Phone 801-266-7151 (Amy)
_____________________________________________________________________________________________________________________________
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