Has anyone ever invested with this company? They are out of KY and TN. They have a bunch of news articles on the internet about how many good wells they have but no one ever seems to make any money with them. Anthony Young has about 10 different companies and goes back and forth raising money with each of them. When they start to get into a little trouble he just switches to the next company. He always stays one step ahead. Please post any info you have on him or his companies.
Young Oil Corporation Files For Chapter 11
Young Oil Corporation filed for chapter 11 bankruptcy protection yesterday at the US Bankruptcy Court for the Western District of Kentucky. The debtor is a privately owned oil and gas exploration company. The petition lists assets of $1 million to $10 million and liabilities of $50 million to $100 million. The listed liabilities include a disputed $33 million unsecured claim owed to Target Oil and Gas Corporation. Download the petition, including the list of the 20 largest unsecured creditors now! (Cost: $29)
• Date Filed: May 19, 2009 • Jurisdiction: United States Bankruptcy Court / Western District of Kentucky • Asset Size: Less than $10,000,000 • Bankruptcy Case Number: 09-10907 • Filed: Voluntarily under Chapter 11 • Attorney for the Debtor: Scott A. Bachert 270-782-3938 • Judge: John A. Lloyd - Chief Judge, United States Bankruptcy Court Phone: (502) 627-5525 • Status: Awaiting first meeting • First meeting of creditors: Sept 16, 2009
For more info, call: Scott A. Bachert - 270-782-3938
More on Earth Energy Explorations and the Rose family.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21074 / June 9, 2009 SEC v. Berkshire Resources, L.L.C., et al. , (United States District Court for the Southern District of Indiana, Case No. 09-CV-704 SEB/JMS , filed June 8, 2009)
SEC Brings Fraud Charges in Connection With a Multi-Million Dollar Oil and Gas Offering Fraud
On June 8, 2009, the Securities and Exchange Commission filed a complaint in the United States District Court for the Southern District of Indiana charging Berkshire Resources, L.L.C. ("Berkshire"), a Wyoming company purportedly involved in oil and gas exploration, its principals, Jason T. Rose and David G. Rose, the six companies through which Berkshire carried out a securities offering - Berkshire (40L), L.L.P., Berkshire 2006-5, L.L.P., Passmore-5, L.L.P., Gueydan Canal 28-5, L.L.P., Gulf Coast Development #12, L.L.P., Drilling Deep in the Louisiana Water, J.V. (collectively, the "Berkshire Offerings")- with securities fraud in connection with an oil and gas offering fraud. The complaint also charged Berkshire's head sales agents, Mark D Long working now for Earth Energy Exploration (eartheei.com)and Yolanda C. Velazquez, with securities registration and broker-dealer registration violations.
In its complaint, the Commission alleges that from April 2006 through December 2007, Berkshire raised approximately $15.5 million from about 265 investors in the U.S. and Canada through a series of unregistered, fraudulent offerings of securities in the form of "units of participation." The defendants marketed the offerings to the public through cold call sales solicitations, and at trade shows and "wealth expositions." The purported purpose of the offerings was to fund oil and gas development projects that Berkshire was to oversee.
According to the complaint, Jason Rose was the public face of Berkshire and was held out as its lead manager with significant experience in the oil and gas industry. In reality, Jason Rose had no experience managing an oil and gas company, and David Rose, Jason's father, ran the company behind the scenes. David Rose has an extensive disciplinary history for securities fraud and is facing a criminal indictment in connection with another similar but unrelated oil and gas scam.
The complaint further alleges that Berkshire, the Berkshire Offerings, Jason Rose, and David Rose also misled investors, among other things, about the use of investor proceeds. The defendants assured investors they would use 100 percent of their funds for the oil and gas drilling projects. Contrary to these representations, Berkshire spent approximately $6.7 million on items having nothing to do with developing the projects, including its own payroll and outside sales commissions, as well as marketing and promotional expenses. Moreover, of the $6.7 million, approximately $1.3 million went directly to members of the Rose family to pay for mortgages on their homes, home furnishings and electronics, cars, and personal credit card charges.
The complaint also alleges that to further their scheme, Jason and David Rose enlisted Velazquez and Long to run two boiler-room type sales offices on Berkshire's behalf; one in Lake Mary, Florida and the other in Jeffersonville, Indiana. Long and Velazquez received commissions for their sales efforts, despite the fact that neither they nor Berkshire were registered broker-dealers. The complaint also alleges that Velazquez violated a prior Commission order issued in March 2005 that barred her from association with any broker or dealer. Finally, the complaint names Brian C. Rose and Joyce A. Rose as relief defendants and alleges that they received ill-gotten gains.
The complaint charges that: (a) Berkshire, Jason Rose, and David Rose violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 ("Securities Act") and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5; (b) the Berkshire Offerings violated Sections 5(a), 5(c), and 17(a) of the Securities Act, and Section 10(b) of the Exchange Act and Rule 10b-5; (c) Mark D. Long violated Sections 5(a) and 5(c) of the Securities Act, and Section 15(a) of the Exchange Act; and (d) Yolanda C. Velazquez, violated Sections 5(a) and 5(c) of the Securities Act, and Sections 15(a) and 15(b)(6)(B)(i) of the Exchange Act. In its complaint, the Commission seeks permanent injunctions, accountings, disgorgement plus prejudgment interest, and civil money penalties against all of the defendants and an accounting and disgorgement against the relief defendants.
SEC Brings Fraud Charges in Connection With a Multi-Million Dollar Oil and Gas Offering Fraud
On June 8, 2009, the Securities and Exchange Commission filed a complaint in the United States District Court for the Southern District of Indiana charging Berkshire Resources, L.L.C. ("Berkshire"), a Wyoming company purportedly involved in oil and gas exploration, its principals, Jason T. Rose and David G. Rose, the six companies through which Berkshire carried out a securities offering - Berkshire (40L), L.L.P., Berkshire 2006-5, L.L.P., Passmore-5, L.L.P., Gueydan Canal 28-5, L.L.P., Gulf Coast Development #12, L.L.P., Drilling Deep in the Louisiana Water, J.V. (collectively, the "Berkshire Offerings")- with securities fraud in connection with an oil and gas offering fraud. The complaint also charged Berkshire's head sales agents, Mark D Long working now for Earth Energy Exploration (eartheei.com)and Yolanda C. Velazquez, with securities registration and broker-dealer registration violations.
In its complaint, the Commission alleges that from April 2006 through December 2007, Berkshire raised approximately $15.5 million from about 265 investors in the U.S. and Canada through a series of unregistered, fraudulent offerings of securities in the form of "units of participation." The defendants marketed the offerings to the public through cold call sales solicitations, and at trade shows and "wealth expositions." The purported purpose of the offerings was to fund oil and gas development projects that Berkshire was to oversee.
According to the complaint, Jason Rose was the public face of Berkshire and was held out as its lead manager with significant experience in the oil and gas industry. In reality, Jason Rose had no experience managing an oil and gas company, and David Rose, Jason's father, ran the company behind the scenes. David Rose has an extensive disciplinary history for securities fraud and is facing a criminal indictment in connection with another similar but unrelated oil and gas scam.
The complaint further alleges that Berkshire, the Berkshire Offerings, Jason Rose, and David Rose also misled investors, among other things, about the use of investor proceeds. The defendants assured investors they would use 100 percent of their funds for the oil and gas drilling projects. Contrary to these representations, Berkshire spent approximately $6.7 million on items having nothing to do with developing the projects, including its own payroll and outside sales commissions, as well as marketing and promotional expenses. Moreover, of the $6.7 million, approximately $1.3 million went directly to members of the Rose family to pay for mortgages on their homes, home furnishings and electronics, cars, and personal credit card charges.
The complaint also alleges that to further their scheme, Jason and David Rose enlisted Velazquez and Long to run two boiler-room type sales offices on Berkshire's behalf; one in Lake Mary, Florida and the other in Jeffersonville, Indiana. Long and Velazquez received commissions for their sales efforts, despite the fact that neither they nor Berkshire were registered broker-dealers. The complaint also alleges that Velazquez violated a prior Commission order issued in March 2005 that barred her from association with any broker or dealer. Finally, the complaint names Brian C. Rose and Joyce A. Rose as relief defendants and alleges that they received ill-gotten gains.
The complaint charges that: (a) Berkshire, Jason Rose, and David Rose violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 ("Securities Act") and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5; (b) the Berkshire Offerings violated Sections 5(a), 5(c), and 17(a) of the Securities Act, and Section 10(b) of the Exchange Act and Rule 10b-5; (c) Mark D. Long violated Sections 5(a) and 5(c) of the Securities Act, and Section 15(a) of the Exchange Act; and (d) Yolanda C. Velazquez, violated Sections 5(a) and 5(c) of the Securities Act, and Sections 15(a) and 15(b)(6)(B)(i) of the Exchange Act. In its complaint, the Commission seeks permanent injunctions, accountings, disgorgement plus prejudgment interest, and civil money penalties against all of the defendants and an accounting and disgorgement against the relief defendants.
Earth Energy Exploration
Berkshire Enterprises, Jupiter Energy, Enterra Energy,Lux Petroleum now is
Earth Energy Exploration (www.eartheei.com).
I am an investigative reporter in Louisville, KY working on a new boiler room scam involving the Roses. We think David Rose's sons are operating a new venture, even though their name is not on it anywhere.
One of their former employees said this site is the best place to find recent victims who may be in the area of Indiana, Ohio or somewhere close enough for us to interview them. If you are agreeable to being interviewed please email.
Adam Walser -
awalser@whas11.com
Investigative Reporter WHAS-TV
Actually these names have been 'popping up' on this forum for at least six years.
David Rose was part of Robo Enter[prises, which according to news reports collected $100M from investors for oil and gas wells and only paid b $6M.
Presumbably the name Robo became too 'hot', so David Rose moved to Kentucky and set up Enterra Energy and continued raising money from investors.
When Enterra and David Rose became too 'hot' David Rose set up his sons in the business of collecting money from investors, although David kid Rose reportedly ran the businesses of Berkshire Enterprises and Jupiter Energy for his sons Jason and Brian Rose.
When their names got too hot they allegedly began to set up oil and gas 'buinesses' without the Rose name attached. Reportedly Lux Petroleum, Earth Energy Exploration, and maybe more we are not aware of.
David Rose faced fraud charges on a number of court that added up to a potential of a 440 year sentence. He recently copped a plea to one count, which normally would produced a five year sentence. He received a 52 month sentence.
Presumbably all of this is intriguing to reporters.
This is interesting. These names have been popping up lately. Are these guys from EnTerra or possibly Earth Energy Exploration LLP or Inc? Two of these guys were reg reps until 2006. I found some info on them and they were issued a restraining order from selling securities in one state. They are no longer reg. reps. I have some info.
Earth Energy Exploration (www.eartheei.com).
I am an investigative reporter in Louisville, KY working on a new boiler room scam involving the Roses. We think David Rose's sons are operating a new venture, even though their name is not on it anywhere.
One of their former employees said this site is the best place to find recent victims who may be in the area of Indiana, Ohio or somewhere close enough for us to interview them. If you are agreeable to being interviewed please email.
Adam Walser -
awalser@whas11.com
Investigative Reporter WHAS-TV
Actually these names have been 'popping up' on this forum for at least six years.
David Rose was part of Robo Enter[prises, which according to news reports collected $100M from investors for oil and gas wells and only paid b $6M.
Presumbably the name Robo became too 'hot', so David Rose moved to Kentucky and set up Enterra Energy and continued raising money from investors.
When Enterra and David Rose became too 'hot' David Rose set up his sons in the business of collecting money from investors, although David kid Rose reportedly ran the businesses of Berkshire Enterprises and Jupiter Energy for his sons Jason and Brian Rose.
When their names got too hot they allegedly began to set up oil and gas 'buinesses' without the Rose name attached. Reportedly Lux Petroleum, Earth Energy Exploration, and maybe more we are not aware of.
David Rose faced fraud charges on a number of court that added up to a potential of a 440 year sentence. He recently copped a plea to one count, which normally would produced a five year sentence. He received a 52 month sentence.
Presumbably all of this is intriguing to reporters.
This is interesting. These names have been popping up lately. Are these guys from EnTerra or possibly Earth Energy Exploration LLP or Inc? Two of these guys were reg reps until 2006. I found some info on them and they were issued a restraining order from selling securities in one state. They are no longer reg. reps. I have some info.
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