92. Heurung also alleges that in February and March 2010, Brian Langenbach and David Greene, an attorney from Colorado, reprinted 3.9 million bogus Petro shares. Heurung said that Greene went to the printer in Kansas City that Petro used and said Hawkins had given him permission to print the shares. Greene called Heurung and asked if he wanted some of the shares, and Heurung refused. Heurung said Greene is selling the shares for 10 to 20 cents a share. Greene wanted Heurung to draft a backdated letter stating the shares were legitimate. Heurung said he refused.
155. Of the $459,530 received from the sale of the shares, $105,000 was remitted to Brown, $118,000 was used by Langenbach to pay off existing business obligations, $118,000 was remitted to David Greene, a business partner of Langenbach. The remaining $118,000 was distributed to various individuals whom Langenbach believed to be in need of financial assistance.
David J. Greene 4465 Kipling Street Suite 301 Wheat Ridge, Colorado 80033 Phone: 303-422-3937 Fax: 303-421-4309 Attorney Registration Number 08994 Admission Date: 09/29/1978
People v. Greene, No. 02PDJ037. 6.13.02 Attorney Regulation. The Presiding Disciplinary Judge approved the parties’ Conditional Admission of Misconduct and suspended Respondent David J. Greene, attorney registration number 08994, from the practice of law for nine months all stayed upon successful completion of a two-year period of probation subject to conditions. In one matter, respondent failed to maintain funds subject to a Medicaid lien in a separate account, and in another matter, respondent tendered funds to the client which were due a provider and were subject to the provider’s lien in violation of Colo. RPC 1.15(a) and (b). Respondent was ordered to pay the costs of the disciplinary proceeding.
By the way I don't think the Langenbach's were arrested. What happened is on Thursday the Final Order was signed by the Arizona Corporations Commission:
The Order does not preclude the commission from referring this matter to any government agencies for administrative, civil, or criminal proceedings. Nor does it preclude any other agency or officer of the state of Arizona or subdivisions from instituting administrative, civil, or criminal proceedings.
So it is possible they could face further legal issues from all of this in the future.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.