Oil Leases
TXEP Fuels, LLCInformation and Alerts
Alert Details
This business has 1 alert.
Government Actions
Texas State Securities Board v. Anthony Martinez
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On December 2, 2024, the business entered into an Agreed Order with The Texas State Securities Board. It was found Mr. Anthony Martinez was a managing member of TXEP during its existence. Mr. Martinez offered for sale and sold an equity interest in TXEP, specifically a 25% membership interest in TXEP, to an investor with the promise to share TXEP profits with the investor. Mr. Martinez also offered for sale and sold interests in or under various oil and gas leases in Texas; the interests described as Working Interests and Net Revenue Interests; and the leases known as Stockyard Lease, the Rodriguez Lease, and the Anastacio Garcia Lease. From May 12, 2020 to June 30, 2020 doing business as TXEP offered sale and sold investments described as Crude Oil Purchase Assignments. Offering investors a shared interest in barrels of crude oil purportedly purchased and managed by TXEP. Mr. Martinez represented that TXEP would sell the crude oil when the market price was at least 50% above the purchase price, with the promise to pay investors their share of the sale proceeds.
It is ordered Mr. Martinez Cease and Desist from offering for sale any security in Texas until the security is registered with the Securities Commissioner or is offered for sale pursuant to an exemption from registration under the Texas Securities Act. Also ordered Mr. Martinez Cease and desist from acting as a securities dealer or agent of the securities dealer in Texas until they are registered with the Securities Commissioner. Lastly it was ordered Mr. Martinez Cease and Desist from engaging in any fraud in connection with the sale of any security in Texas.
For more details go to: https://ssb.texas.gov/sites/default/files/2024-12/ENF_24_CDO_1888.pdf
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