Crystal River Oil and Gas Investigated for Committing Fraud
Crystal 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.