Securities Fraud in Oklahoma, Not OK
June 19, 2009 by Lela Davidson
Filed under Corporate Finance
The Securities and Exchange Commission this week charged two Oklahoma City residents with securities fraud and other violations related to misappropriating millions of dollars from Quest Resource Corporation, Quest Energy Partners, L.P. and their affiliates while they were executives at the company.
The SEC alleges that Jerry D. Cash and David E. Grose caused Quest to make a series of transfers to a separate company that Cash controlled. Cash tried to conceal the transfers by, among other things, ostensibly transferring the funds back to Quest at the end of each quarter. The progressively greater amounts taken from Quest over time are …read more
