On September 26, 2013, the Commission filed a complaint against Ronald E. Walblay ("Walblay"), Ryholland Fielder, Inc. ("Ryholland"), and Energy Securities, Inc. ("Energy Securities") (collectively, the "Defendants"). The complaint alleged that, from January 2009 to November 2012, the Defendants defrauded investors in five oil and gas offerings by misrepresenting such key facts as the amount of available reserves, the use of investor funds, and their past success in the oil and gas industry. Walblay perpetrated the fraud through Ryholland, which had managed a number of oil and gas limited partnerships, and his former brokerage firm Energy, which sold the partnerships' interests – none of which were registered with the SEC as required under the federal securities laws. See Complaint.

The Defendants were ordered to pay a total of $368,783.00 in disgorgement, prejudgment interest, and penalties. In the Defendants' final judgments, the Commission was ordered to hold all funds, (collectively, the "Fund"), pending further order of the Court. See Walblay's Final Judgment, Ryholland's Final Judgment, and Energy Securities' Final Judgment.

The Defendants have paid a total of $368,783.00 into the Fund.

For more information, please contact the Commission:

Person to Contact: 

Office of Distributions
Email: ENFOfficeofDistributions@sec.gov