2019-06-26 sec-litreleases litigation_release 65 KB 1,793 chars

SEC v. Mark Allen Plummer, No. LR-24514, Northern District of Texas (June 26, 2019) — Press Release

raw: Mark Allen Plummer

Mark Allen Plummer, No. 3:19-cv-01538 (June 26, 2019)

Caption
Securities and Exchange Commission v. Plummer
Source PDF JSON
summary

Mark A. Plummer, president of Texas E&P Partners, Inc., misused $399,011 of $6.1 million in investor funds for personal expenses and agreed to pay over $500,000 to settle SEC charges.

paragraph

Mark A. Plummer, president of Texas E&P Partners, Inc., allegedly misused nearly $400,000 of $6.1 million raised from retail investors for two oil well projects between February 2015 and April 2017. Plummer agreed to settle the charges by paying $399,011 in disgorgement, $33,008 in prejudgment interest, and a $75,000 civil penalty. The settlement, totaling over $500,000, is subject to court approval.

narrative

The Securities and Exchange Commission (SEC) charged Mark A. Plummer, president of Texas E&P Partners, Inc., with misappropriating nearly $400,000 of $6.1 million raised from retail investors for two oil well projects between February 2015 and April 2017. Plummer allegedly used the funds for personal expenses, including travel, entertainment, retail purchases, and income taxes, in violation of representations made to investors. The SEC's investigation, led by its Fort Worth Regional Office, found that Plummer's actions constituted a violation of the antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Plummer agreed to settle the charges by consenting to a permanent injunction against future securities fraud violations and paying $399,011 in disgorgement, $33,008 in prejudgment interest, and a $75,000 civil penalty. The settlement, totaling over $500,000, is subject to court approval. The SEC's litigation is being handled by Chris Davis and B. David Fraser.

Enriched metadata

Scheme
investment-adviser-fraud (85%)
Court
Northern District of Texas
Case No.
3:19-cv-01538
Outcome
settled
Settlement
$500,000
Disgorgement
$75,000
Civil penalty
$75,000
Entity
Mark Allen Plummer
Classified investment-adviser-fraud(confidence 85%). EDGAR detection: forms ADV/ADV-E/ADV-W/Form D· recall 33% / precision 13%. detection rule →
Statutes
Section 17(a) of the Securities ActSection 10(b) of the Securities Exchange ActRule 10b-5
Parties
Securities and Exchange CommissionMark Allan Plummer
Keywords
plummermark allenallen plummerinvestor fundssecurities exchangetexasmarksecuritiessec'sjune securitiesexchange commissionplummer agreedsettle sec'sallenoil

Exhibits & Attached Documents (1)

Extracted insights

Dollar amounts 6
  • $6.10M $6.1 million $1M–$10M
  • $500K $500,000 $100K–$1M
  • $400K $400,000 $100K–$1M
  • $399K $399,011 $100K–$1M
  • $75K $75,000 $10K–$100K
  • $33K $33,008 $10K–$100K
Entities 6
  • person investor funds
  • person mark allen plummer
  • company raised through texas e&p partners, inc., his oil and gas operating company
  • agency Securities and Exchange Commission
  • organization Securities and Exchange Commission
  • company texas e&p partners, inc.
Triples 19
  • Mark Allen Plummer misappropriated investor funds raised through Texas E&P Partners, Inc., his oil and gas operating company
  • Securities and Exchange Commission filed charges against Mark A. Plummer
  • Mark Allen Plummer agreed to pay over $500,000 to settle these charges
  • Mark Allen Plummer misappropriated investor funds raised through Texas E&P Partners, Inc., his oil and gas operating company
  • Securities and Exchange Commission filed charges against Mark A. Plummer
  • Mark Allen Plummer agreed to pay over $500,000 to settle these charges
  • Securities and Exchange Commission filed charges against Mark A. Plummer
  • Mark Allen Plummer is president of Oil and Gas Company
  • Mark Allen Plummer misused Retail Investor Funds
  • Mark Allen Plummer agreed to pay $500,000
  • Securities and Exchange Commission filed Litigation Release No. 24514
  • Securities and Exchange Commission filed charges against Mark Allen Plummer
  • Mark Allen Plummer misappropriated investor funds
  • Mark Allen Plummer owns Texas E&P Partners, Inc.
  • Securities and Exchange Commission filed charges against Mark A. Plummer
  • Mark A. Plummer misappropriated investor funds
  • Mark A. Plummer misappropriated funds raised through Texas E&P Partners, Inc.
  • Mark A. Plummer agreed to pay over $500,000
  • Mark A. Plummer settle charges
PDF (from attached: pdf)
Comp24514 · Source
Text layers
Extracted body text (1,793c) 
SEC Charges President of Oil and Gas Company for Misusing Retail Investor Funds Litigation Release No. 24514 / June 26, 2019 Securities and Exchange Commission v. Mark Allen Plummer, No. 3:19-cv-01538-G (N.D. Tex., filed June 26, 2019) On June 26, 2019, the Securities and Exchange Commission filed charges against Mark A. Plummer for misappropriating investor funds raised through Texas E&P Partners, Inc., his oil and gas operating company. Plummer has agreed to pay over $500,000 to settle these charges. According to the SEC's complaint, filed in the United States District Court for the Northern District of Texas, Plummer, a Texas resident, founded and controlled Texas E&P and its affiliated entities. From February 2015 to April 2017, Texas E&P raised $6.1 million from retail investors by offering and selling interests in joint ventures formed to drill and operate two separate oil well projects. Contrary to representations made to investors, Plummer allegedly spent nearly $400,000 of these investor funds improperly for personal or improper business expenses, including entertainment, travel, retail expenses, and income taxes. Plummer has agreed to settle the SEC's charges by consenting to the entry of a final judgment that permanently enjoins him from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and orders him to pay $399,011 in disgorgement, $33,008 in prejudgment interest, and a $75,000 civil penalty. The settlement is subject to court approval. The SEC's investigation was conducted by Rebecca Fike and supervised by Jim Etri of the Fort Worth Regional Office. The SEC's litigation is being handled by Chris Davis and B. David Fraser. SEC Complaint
OCR text (1,793c · html-text · 99% conf) 
SEC Charges President of Oil and Gas Company for Misusing Retail Investor Funds Litigation Release No. 24514 / June 26, 2019 Securities and Exchange Commission v. Mark Allen Plummer, No. 3:19-cv-01538-G (N.D. Tex., filed June 26, 2019) On June 26, 2019, the Securities and Exchange Commission filed charges against Mark A. Plummer for misappropriating investor funds raised through Texas E&P Partners, Inc., his oil and gas operating company. Plummer has agreed to pay over $500,000 to settle these charges. According to the SEC's complaint, filed in the United States District Court for the Northern District of Texas, Plummer, a Texas resident, founded and controlled Texas E&P and its affiliated entities. From February 2015 to April 2017, Texas E&P raised $6.1 million from retail investors by offering and selling interests in joint ventures formed to drill and operate two separate oil well projects. Contrary to representations made to investors, Plummer allegedly spent nearly $400,000 of these investor funds improperly for personal or improper business expenses, including entertainment, travel, retail expenses, and income taxes. Plummer has agreed to settle the SEC's charges by consenting to the entry of a final judgment that permanently enjoins him from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and orders him to pay $399,011 in disgorgement, $33,008 in prejudgment interest, and a $75,000 civil penalty. The settlement is subject to court approval. The SEC's investigation was conducted by Rebecca Fike and supervised by Jim Etri of the Fort Worth Regional Office. The SEC's litigation is being handled by Chris Davis and B. David Fraser. SEC Complaint

Related documents (1)