SEC Announces $25 Million Settlement With Self-Proclaimed “Frack Master”

The Securities and Exchange Commission today announced it has agreed to a settlement with Christopher A. Faulkner - the self-proclaimed “Frack Master” - in connection with his wide-ranging securities fraud scheme that raised over $80 million from hundreds of investors nationwide. Faulkner has simultaneously entered into a plea agreement relating to the same misconduct under which he will serve 12 years in federal prison for securities fraud, money laundering, and tax evasion charges filed by the U.S. Attorney’s Office in the Northern District of Texas. According to the SEC’s June 2016 complaint, Faulkner systemically deceived investors across the country by disseminating false and misleading offering materials, misappropriating millions of dollars of investor funds, and manipulating the stock of Breitling Energy Corporation (BECC), a publicly traded company Faulkner controlled.