Terax Energy Inc New (EM) (TEXG)

David Lazar petitioned this stock back in 2024. Looks like this is going to be under the old name Westar oil and Gas. Share structure has been updated on otc markets recently

They are not giving me much. About 2K shares so far...

$TEXG Grey to Pink

3.6 million O/S

https://www.otcmarkets.com/stock/TEXG/security

Disbarred Lawyer Indicted in $9.5 Million Investment Scam

Department of Justice Press Release

http://losangeles.fbi.gov/dojpressrel/pressrel11/la031011.htm

For Immediate Release
March 10, 2011 United States Attorney's Office
Central District of California
Contact: (213) 894-2434

Disbarred Lawyer Indicted in $9.5 Million Investment Scam

LOS ANGELES—A Beverly Hills man has been indicted on federal fraud and money laundering charges for allegedly running an investment scheme that collected more than $9.5 million from victims who were promised huge profits from purported investments in various oil companies and oil ventures.

Mark Roy Anderson, 56, was named in 12-count indictment returned yesterday by a federal grand jury. Anderson was arrested by federal authorities on February 23 after being charged in a criminal complaint that was filed in federal court.

Court documents allege that Anderson solicited investments from victims who were told that their money would be invested in various oil companies and oil-related ventures in Oklahoma and California. Claiming that investments would be made in companies with names that included National Healthcare Technology, Terax Energy, Westar Oil, China Oil, and Petrolects, Anderson allegedly promised victims substantial returns on their investments. The indictment also alleges that Anderson told victims that they were buying unrestricted shares in certain companies, meaning that the victims could sell the shares immediately.

The indictment alleges that instead of using investors' money for the oil ventures, Anderson and his then-wife spent investors' money for their own personal use. The complaint filed earlier this month specifically alleged that Anderson and his then-wife used investors' funds to purchase a Beverly Hills residence and an interest in the now-closed Prego restaurant in Beverly Hills.

The indictment goes on to allege that Anderson failed to tell victims that he had previously been convicted of mail fraud, that he had been disbarred from the practice of law by the state of Nevada, and that a federal judge in Texas had ordered Anderson and Westar Oil to stop violating securities law and to pay nearly $3 million in penalties a lawsuit filed by the Securities and Exchange Commission .

The indictment alleges that Anderson caused at least 10 investors to invest over $9.5 million, very little of which was returned to the victims.

An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed innocent until and unless proven guilty.

Anderson, who was freed on a $250,000 bond after being arrested last week, is scheduled to be arraigned Monday in United States District Court.

The indictment charges Anderson with three counts of wire fraud, three counts of securities fraud, and six counts of money laundering.

Each count of wire fraud carries a statutory maximum penalty of 20 years in federal prison. Each count of securities fraud carries a statutory maximum penalty of 25 years in federal prison. Each count of money laundering carries a statutory maximum penalty of 10 years in federal prison.

The case against Anderson is the result of an investigation by the Federal Bureau of Investigation and IRS - Criminal Investigation. The U.S. Securities and Exchange Commission, Division of Enforcement, and the Beverly Hills Police Department provided assistance in the investigation.

http://losangeles.fbi.gov/dojpressrel/pressrel11/la031011.htm

This thing cost me dearly long ago. IT"S a scam bunch of bad gas holes.

.12 cents? Okay play with me.

Wrong again. There are hundreds & hundreds of stocks that own nothing that have been bankrupt for many,many years that still trade.

Hot sure what $2 whores have to do with criminal repeat securities scamster Anderson.

Well they own something or this thing wouldnt be at the current price. However, I think you have not read my intention. I dont wont you to buy this for your 401k but to treat it like a 2 dollar Whore in New Orleans. Get it brainyacak.

Well, Ive read the SEC filings, You obviously havent.

You said "A horrible CEO doesnt take away from land or oil rigs"

There is no land. There is no oil rigs. The entire thing is yet another in Felon Andersons long line of scams.

Calling hin a "horrible CEO" is like calling Hurricane Katrina "light wind & showers".

TEXG has nothing of value. Westair has nothing of value.

Why exactly would you want to own it ?

And yes, I was saying the same thing long before the SEC stepped in, In fact, i emailed them to this and many,many other obvious scams well before they took action.

No you didnt read my posts. However, Im sure since you own a computer you can scroll down a bit.

This is where you say their is a governmental conspiracy. the SEC and everyone is out to get poor honest Anderson.

Well give this your best shot. We cant even trade yet. So what now?

Unlike other mods I dont mind you posting negative stuff or even a little mean. I wont delete you or report you untill you get way our of line. Is that fair? You dont like this stock. Post all day. Its all good to me.

chloebware is the moderator and is also touting this OBVIOUS SCAM.

That should tell you something.

The stock WILL be a zero in the end, the only question is exactly when.

But scammers dont care as long as they can find a bigger idiot.

Well, 12 cents today. Goldmine.

I think you are the one who bought on 6$ - its good to see that there is almost no trading in the stock.

WTF ?

Laugh your ass off! Please. However, I saw this stock go from .68 to over 6 dollars in about 5 months. I know... they just did it on PRS. God where do you people come from? I know your the guy that didnt sell at 6 dollars.

LMFAO ,,,, what land, what oil rigs ?

Just wait. This thing has traded in a long time and is still at .16. Come on. A horrible CEO doesnt take away from land or oil rigs.

LOL BUYING WHAT ?

Thank you for your permission.

Please, do

This stock hasnt trade in about 6 months and is still at .16. I am buying.

ok now let this ride out.

Hell no, I am not joking. I saw this stock go from .068 to over 6 bucks. Hey if you didnt sell in the 5-6 range you let greed get you.

you must be joking ! very funnny.

This stock has taken the worst it can and it is still at .16. That is heaven for pinkie land.

I have followed this board for about 2 years. It went from .27 to about 6 bucks and I cant believe I didnt buy in. All right this company is at rock bottom and that is when you buy. Im in.

At 12/31/07 they owned 176,785 shares which they said was 4.7%

At 12/31/06 they owned 3,535,700 shares which they said was 5.84%

It appears to me they didbt buy or sell a single share during the entire year of 2007. Their shares got diluted with the 1 for 20 reverse split.

I dare say this $21,000 position of theirs is not real important to them.

They've certainly NOT been buyers in well over a year.

December 31, 2006 is the date of the thing.

Isnt it ?

Looks like they bought more according to fillings 2 weeks ago, unless I'm mis-reading it?

http://www.secinfo.com/drh24.u1z4.htm

I doubt that.

Wellington Management have been buying large chunks of this stock. Why?

Whats the status on the frozen assets ?

Better yet, when will the feds get an indictment and put this criminal away...again.

Anderson dung also, Brighton Oil & Gas, Inc. (BROG.OB)

LOL , eom

That was me covering.

80% up today ?

15 cents !

Its good to see the price of this OBVIOUS SCAM close to its real worth of ZERO.

I just wish they would get Anderson BEHIND BARS where he belongs !

this whole situation had a article in the recent Forbes.

I called the SEC office mentioned in the trading suspension.

817-978-3821. They connected me to Steve Grahams voicemail but I didnt leave a message.

Was going to ask what, if any, assets they have frozen.

Funny thing, the same guy defending him used to work for the SEC in Texas, Might have even been the same office.

They always mention disgorgement because really, thats the SECs only power. The SEC cant put anyone in jail and oftentimes the prosecuters wont go after the scamsters. Anderson having a prison record might be different.

Many of these full fledged scamsters never pay a dime in disgorgement.

Often all their assets are hidden so they sign a "unable to pay" affidavit and promise never to do it again.

Others promise to pay at a later date but never do.

Guys like Anderson are never going to willingly cough up a penny.

Hopefully, they have some of his assets frozen like they say.

At least in cases like that, theres something that can be held onto. But oftentimes the judges will let them at it to pay for their attorneys. Judges are all about making sure the attorneys get paid.

I think you are probably right. Anything is possible with these guys. Right from wrong isn't a concern for them, staying out of the block house would be though. Also, in terms of his 21 cents cost and subsequent profits, the SEC mentiononed disgorgement in their original filling, so I don't think it's going to be so easy for him.

Like you say, will be interesting to see how it plays out.
It would be at least somewhat gratifying to know that he isn't sleeping well these days.!

Anderson is more worried about keeping his butt out of prison than anything else.

Thats why we arent seeing more obviously false press releases.

He thought he was invincible and now he may be realizing he isnt.

Anderson COULD be selling. I mean, they say he sold before and didnt disclose it.

So how much more could that really bother him ?

I recall a scamster that went to prison years ago for securities fraud. He would put out fake form 4s showing he BOUGHT stock but they never even mentioned it with the other stuff they had on him.

Its like adding a speeding ticket to a murder charge. LOL

I dont always trust those shorted figures. I suspect theres a way that some folks short without them being listed somehow.

I would assume that if someone could short on the pinks, which I think they can, they can probably short on the grey.

But, I wasnt saying anyone was shorting down here. It could be speculators buying thinking that Anderson will get another pump & dump out of this thing despite the fact that its clearly worthless.

I mean, Andersons cost is 21 cents a share, but he probably sold enough that he really has a zero cost left.

It will be interesting to see how it plays out.

Something intriguing?

They SEC claim that they put a stop to his game before he could dump a substantial part of his holding. In terms of his scam, can he simply sell stock or does he have to comply and make known his trades which are very much "insider", yet he has no "formal" link to the company? I think they are onto this guy and watching every move he makes.

So where does this leave a typical con artist...for one thing they hate losing money.

Couple of things I've noticed;

Their web site is offline.
If you phone Westar they won't comment, but refer you to a venture capital firm callled b2 or b4 ventures or something like that.
When you call them, you get voicemail referring you to Terax but no every calls back (lol, I wonder why?).
I think Anderson still has alot at stake here.

The thing is, when trading was suspended there were only 52,000 shares short. Can you go short on the grey market? If yes, then that could explain it, otherwise it puzzles me somewhat.

pHILLIP oFFIL.

This guy used to be on the GOOD side of the law.

I spoke with him years ago regarding the JAWS *Great White Marine* scam.

Now he is siding with criminals like Anderson.

He should be ASHAMED !