Being from Colorado and one that is basically interested in securities s, I take a organic awareness to all of the fraud that has been heading on here locally. Every thing from the small time Ponzi Schemer to the flat out fraudster. 1 business that peaked my awareness was Heartland Energy Development Corporation out of Englewood, Colorado.
Denver applied to be one of the largest and most flourishing environments for penny stockbrokers or “modest cap specialists” back in the mid to late 1980’s. Denver has been the home of many scandals from Silverado to Blinder Robinson. So it would seem that there is constantly one thing going on in the modest town of Denver, Colorado.
In 2007 The Alabama Securities Commission had issued a cease and desist organization to Heartland Energy Development Corporation situated at the time at 9780 Mount Pyramid Court, Suite 200, Englewood, Colorado 80112. Some of the respondents named in the cease and desist buy for Heartland Electricity Growth Institution had been John Schiffner, Brandon Davis and Charles Reed Cagle.
In accordance to the purchase, the Alabama Securities Commission states that a representative of Heartland Energy Development Corporation engaged in the present of and/or sale of unregistered securities in the Starr County Kennard Joint Venture to a resident in Alabama. Even more, it was John Schiffner who manufactured a common solicitation or cold call to the Alabama Resident. The representative, John Schiffner mailed documents to the resident which represented Brandon Davis as the CEO of Heartland Energy Development Corporation at the time.
The supplying that was mailed describes the purchase offered as participation in units of awareness in a joint venture which was to be formed under Texas partnership law to engage primatily in the organization of exploration, production from, and operation of an oil and gas effectively in Starr County, Texas. The objectives of the expense was to obtain the acreage for the Wellbore and conduct operations to drill, test and if proper complete the prospect nicely. The investor in this situation would be supplied money distributions from operations.
The respondents to the organization, namely John Schiffner had been neither registered nor exempt from registration with Securities Exhange Commission with the state of Alabama. In accordance to the organization, the units of interest are defined as a protection and John Schiffner necessary to be registered in buy to offer you these models to the public.
So basically, John Schiffner and the other officers listed above had been issued a cease and desist purchase, and from the appears of it, that was all. What happened following that? Did any person pursue them any additional?
The complete point of this weblog is to find answers to some of these queries. Heartland Energy Development Corporation does not seem to be to exist any longer. I have contacted Heartland Energy Development Corporation at their old cell phone quantity 303 768-9440. Right now the phones are answered “Swan Energy Inc”. Who is Swan Energy Inc.? Is it just a cover up organization that would clean Heartland Energy Development Corporation’s scarred background with the SEC? This is what I hope to find out in future posts
September 11 2010 11:59 pm | Uncategorized