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The Texas Securities Board is still investigating. He's moved on to screwing other investors in the assisted living realm and now the mini storage investment world. His attorney creates a harassing environment to help this guy go down the road. MANY, MANY investors are wanting to sue him but he has so many judgements already against him that are unpaid. The civil process is a waste of time and money. The criminal system needs upgraded.
Well from my end...the oil scammer who sued me to shut me up finally dropped his case against me. He finally realized that I wasn't going to budge. He is now out scamming more investors on other deals.
I did go into their old Abilene office building a couple weeks ago while in town. It looked like some kind of virtual office setup.
Flight costs are cheaper if you put the trip out a couple weeks ??
He's probably all packed up and headed to the airport for who knows where.
My oil scammer hired a previous lawyer and didn't pay him. His current lawyer is an idiot for representing him. It's in their MO.
The oil promoter who is suing me for shutting down his oil scam operation continually presses me to pay him money. He started asking for $1M....then $125K...then $54K...now $35K. Enforcement agencies are taking their time to investigate but he continues his operations. I continue to pay money to my attorney. The world of oil scamming can be very nasty. This guy and others like him know this is their cost of doing business.
Then we'd have to do a capital raise totaling $1 to make liabilities equal assets. No wait...there are a lot more liabilities and ...oh wait...I don't think we can get approval to do a capital raise. ??
Ahh...forget it.
I'll bet a dollar...or 100,000,000,000 shares of CEGX.
I'm doubling down...
He has stepped into an empty room with a lot of garbage left behind.
Ford is CEO of this company...
https://www.sec.gov/litigation/litreleases/2019/lr24427.htm
My scammer does the same thing. I continuously asked him for info. Deny...deflect... that's their tactic...put the burden and effort on the investor. Shoot...they already took our money. Now my scammer accuses ME of lying! Even though I have physical proof from his own letters showing otherwise.
There are people who will buy anything. Some sellers know this and use it.
Yep..and CEGX would buy those leases and excite investors to buy shares of stock.
Hey...pump and dump in the works.
Carlilse was the operator who made a lot of money off his turnkey drilling costs. Investors gave the lease back to Carlisle and his buddy who then both tried to sell it and other similar leases for another $5M. When they wouldn't sell Carlisle worked a deal with CEGX.
I think Carlisle and the scamming promoter were in a conspiracy operation together. The dry well data was available public information. Both promoted themselves as experienced and knowledgable oil people. They had been involved in the oil business for years...with a long history on similar projects. They've been doing this for years.
It was known as the Loftin PG1 at the Texas Railroad Commission...known as Genesis to the scammed investors. They redrilled a tract of land plugged in 1990 when the wells went dry. They pulled in $2.5M from new investors to make back our investment in 11.84 months..wow! Of course we didn't produce hardly any oil at all. The scammer and his operator pocketed most of the money.
I lost a bunch of money thru a CEGX associated scam. My oil scammer still has a $1M lawsuit against me for "interfearing" with his scam and warning others about it. There's a lot of bad infectious money spent and lost around all these guys. They are like a bad tenant that leaves a bunch of trash in their wake. They also spend their money (as a cost of doing "business") to keep a new pathway open to the next scam. Apparently they understand the little victims can do to stop these guys and are willing to do. My scammer doesn't know me very well though.
No where to go but up...which won't happen.
Good thing about keeping CEGX out there...they stay on Investorhub and we stay in contact exposing these kind of companies.
I would take some CEGX stock..IF CEGX would pay me to take it. That's its value to me.
Scammers live in their muck all the time. They get so use to it and don't think about getting caught. They just enjoy their time.
Our system makes it very easy for them to survive. It's a full time job for the victims AND law enforcement to pull them to the side of the road and take them to jail. Scammers know this. It's a subject matter in Scammer class 101.
When victims take a stance to confront and stop these scammers it's an additional burden...takes more time and more money which most likely is not recoverable.
In addition to all this you have believers or partners who are benefitting from their operations. These people make it even harder to protect the world.
This is just the SEC's response to all their activities. There's probably more to come from the criminal side against Crawford.
What dollar amount in fines will CEGX have to eventually pay?...and Crawford?
Shareholders will have a higher liquidation factor going forward.
I want to develop a technology that can scan a person's brain and detect for "Crawford scam syndrome". A law can be created requiring individuals to pass the screening before they are allowed to take investor money. A company could make a lot of profit off that patent.
Funny...I don't see this latest news posted on Cardinal's website. They are slow at posting news updates too.
Carlisle charged us $990K to drill our lease. The actual cost was probably about 1/2 that price. That's where some of our money went...into Carlisle's pocket.
Well my connection Carlisle was part of it. On my investment lease he pocketed a lot of money to have us drill a worthless bunch of wells. It was known with prior historical production data that it was worthless.
How soon before all current CEGX personnel fly the coop?
I'd love to volunteer to be on the jury panel.
CEGX as the operator probably got paid for doing nothing operating the leases. The operator CEGX (aka Crawford) pocketed the money. They didn't pay their hired drillers, etc...
These guys know how to funnel the money out of investors' pockets and flow it into theirs thru all kinds of directions.
Still shows that volume spike just before the suspension. I wonder who made the sells and what triggered them.
Must be a mistake on Yahoo. Daily price chart is blank. Does show an 816K volume that may be a pre-suspension volume.
That volume shows up on Yahoo finance.
816K volume today. Wonder who made the transactions and if they had insight to what was going to happen.
It may be too late to dump.
Cat is coming out of the bag.
Yep..standard operating procedure.
The pump is on the downstroke.
If I bought CEGX stock and then found out the company's background I would shred my stock certificates and write it off. It would be my fault for not vetting the company and I would take the loss. To pass that loss on to someone else by selling the stock is immoral to me. Selling the stock would put me in the same category as the company.
Do you own stock in CEGX and if so are you in a negative position? I keep trying to understand your motivation.