Striker Petroleum, LLC, Mark Roberts and Christopher Pippin

On December 3, 2009, the SEC obtained by consent permanent injunctions against Striker Petroleum, LLC and its principals, Mark S. Roberts and Christopher E. Pippin, and a freeze of Striker’s assets, in connection with the fraudulent sale of debentures collateralized through oil and gas properties. The SEC alleges that from September 2006 through September 2008, Striker illegally raised approximately $57 million from about 540 investors nationwide from the sale of the debentures. According to the complaint, the defendants utilized offering materials that included material misrepresentations and omissions concerning Striker’s earnings and asset valuations, the use of investor proceeds and the existence of a third party independent trustee for the debenture collateral.

For more information about the SEC’s action, you can read Litigation Release No. 21325 (Dec. 4, 2009).

The Court also appointed Dennis L. Roossien as Receiver to collect, marshal, manage and distribute Striker’s assets for the benefit of defrauded investors. You can find the latest information about the Receivership by visiting the Receiver’s website.