‘Frack Master’ Agrees to 12-Year Prison Term, Surrendering $23.8M for Oil, Gas Fraud

摘要

The U.S. Securities and Exchange Commission (SEC) has reached a settlement agreement with Breitling Energy Corp. CEO Chris Faulkner, who was charged two years ago with defrauding investors in an $80 million oil and gas scheme. The SEC said Faulkner, who called himself the “Frack Master” for his alleged expertise in hydraulic fracturing (fracking), entered into a plea agreement to serve 12 years in federal prison for securities fraud, money laundering and tax evasion.