Behrooz Sarafraz Accused of Acting as an Unregistered Broker in the Offer and Sale of Securities by TVC OPUS I Drilling Program and Tri-Valley Corporation

Behrooz Sarafraz acted as an unregistered broker-dealer in violation of federal laws that govern broker-dealer registration, according to a complaint filed by the Securities and Exchange Commission (“SEC”).

The Peiffer Rosca securities practice attorneys Alan Rosca and Joe Peiffer are investigating the matter.

Sarafraz, between February 2002 and April 2010, participated in the offer and sale of securities by TVC Opus I Drilling Program, LP (“Opus”) and its managing general partner, Tri-Valley Corporation (“Tri-Valley”), according to the complaint. Opus raised approximately $97 million from nearly 300 investors in a private placement of securities in the form of general and limited partnership interests, according to the complaint. Tri-Valley and two of its subsidiaries raised nearly $43 million in securities offerings made to a number of the same investors, according to the complaint.

Sarafraz assisted Opus, Tri-Valley, and its subsidiaries to raise funds in their respective offerings and Sarafraz received approximately $18.3 million in sales commissions from Opus and Tri-Valley as a result of his fundraising efforts in connection with the aforementioned securities offerings, according to the complaint. Sarafraz allegedly paid approximately $1,9 million to others for their referrals.

Sarafraz was not registered with the SEC as a broker-dealer or associated with a registered broker-dealer during the time of the offerings, and by engaging in the activity of effecting transactions in securities for the account of others, Sarafraz acted as an unregistered broker in violations of federal securities laws, according to the complaint.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.