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[SOS] Indiana Secretary of State Connie Lawson provides relief to two Indianapolis residents scammed in oil rights scheme
Start Date: 7/15/2014 All Day
End Date: 7/15/2014
Entry Description

Scam artist ordered to pay over $80,000 in restitution and fees.

INDIANAPOLIS (July 15, 2014) – Indiana Secretary of State Connie Lawson reached an $80,000 settlement with Norman Forest Germany and E.B. Germany & Sons, LLC for selling unregistered oil rights to two Indianapolis residents.  Germany admits to violating the Indiana Uniform Securities Act and is ordered to pay restitution, civil penalty fees and investigation costs.

“Gas and oil investments can be an attractive investment and Mr. Germany used this to his advantage,” said Secretary Lawson. “The victims were preyed upon with a guarantee of incredible returns in a short amount of time. If it sounds too good to be true, it most likely is!  That is why it is so important for investors to do their homework and check with my office before making any investment. “

In March of 2014, Secretary Lawson’s Securities Division accused Germany and his company of two violations of the Indiana Uniform Securities Act.  Germany was not registered to sell securities in Indiana and sold unregistered securities in shares of an oil project that never happened.  He promised investors returns of over 1000% within 3 months.  Germany and E.B. Germany & Sons also allegedly provided falsified statements of material facts in the sale of those interests. 

Germany and E.B. Germany & Sons admitted to the violations and were ordered to pay a $10,000 civil penalty, $10,000 in investigation costs and $66,650 in restitution to the two victims.  Failure to make these payments and to conform to the agreement will result in administrative action by the Indiana Securities Division against Germany and E.B. Germany & Sons.  

 “To help you, we need to hear from you,” said Securities Commissioner Carol Mihalik. “In some cases it may be embarrassing to admit you have been duped but allow us to work to make sure proper remedies and consequences have been put in place.”

For information on how to avoid becoming a victim of investment fraud visit www.indianainvestmentwatch.com.

Contact Information:
Name: Valerie Kroeger
Phone: 317-233-8655
Email: vkroeger@sos.in.gov
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