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Tuesday, March 24, 2015

Jeffory D. Shields Gets 6 Years For Colorado Oil & Gas Investment Fraud

Today Jeffory D. Shields was barred from associating with any broker, dealer, investment adviser, muni securities dealer or transfer agent. According to the SEC, from January 2010 to August 2011, Shields mailed out false and misleading information about four oil and gas investments. Shields held conference calls and misrepresented the amount that was spent on drilling. He is also accused of misusing investor proceeds. Shields pled guilty on June 5 of 2014 in the state of Colorado and was later sentenced to 6 years in prison, followed by 5 years of parole. He is also ordered to make restitution in the amount of $4,613,124.97.