Crystal River Oil and Gas Investigated for Committing Fraud

Investment fraud lawyersCrystal River Oil and Gas was subject to a search warrant related to allegations that Crystal River committed investment fraud, wire fraud, mail fraud, and bank fraud.

The Peiffer Wolf securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter.

Crystal River, Klawiter, and Schelling Accused of Misleading Investors

Crystal River’s owner, Reiner Klawiter, and its production manager, Gary Schelling, were mentioned in the warrant affidavit as being involved in potential violations from January 1, 2008 through July 26, 2013 – the date the affidavit was filed.

Klawiter, with Schelling’s assistance, “committed investment fraud by making material misrepresentations to investors to induce them to invest funds” in Crystal River’s oil and gas programs, according to Melinda Wilgus, a special agent with the criminal investigation division of the IRS.

Wilgus mentioned in her affidavit that “Information discovered during this investigation indicates that Klawiter artificially inflated cash-flow projections for the investment programs presented to potential investors in order to induce” investments.

Investment Fraud Lawyers Investigating

The Peiffer Wolf 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 Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.

Peiffer Wolf (1296 Posts)

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.