Houston energy exec charged with bilking investors out of $1.2 million in oil and gas deals

[TexasTowelie]

A Houston energy exec has been charged in an elaborate scheme to defraud 21 investors out of $1.2 million in oil and gas transactions, according to U.S. Attorney Ryan K. Patrick.

A federal grand jury returned a 12-count indictment against Arael Doolittle, 55 who heads Sariel Petroleum LLC and Sariel Enterprises LLC. According to Law 360, Doolittle operated a company that used bogus letters, phony email addresses and a bank account under the name of a Chevron-affiliated company in order to dupe companies into doing business with it.

"Doolittle falsely represented he had the necessary pre-existing relationships with major refiners and petroleum product suppliers to purchase fuels for resale to his customers," the U.S. Attorney's release stated.

The indictment also alleges that Doolittle provided falsified documents to investors to substantiate and legitimize his holdings.

Read more: https://www.chron.com/business/article/Houston-energy-exec-charged-with-bilking-15688344.php

[Wellstone ruled]

1. Ah Gee,

he was just using the how to Sucker People into Buying Blue Sky hand book. Why not,fly by night Mining Companies have been doing it for decades.