Robert Helms, Deven Sellers, and Roland Barrera — Ponzi Scheme and Securities Fraud
Robert Helms, Janniece Kaelin, Deven Sellers, and Roland Barrera Allegedly Orchestrated a $31.4 Million Ponzi Scheme
Robert Helms and Janniece Kaelin, with assistance from Deven Sellers and Roland Barrera, allegedly orchestrated a $31.4 million Ponzi scheme, according to an SEC Motion currently under review by attorneys Alan Rosca and Joe Peiffer.
Helms and Kaelin allegedly operated and controlled several entities including Vendetta Royalty Partners (Vendetta) and Iron Rock Royalty Partners (Iron Rock), purported as limited partnerships distributing royalties from oil and gas investments, said SEC Motion also notes.
Sellers and Barrera were also allegedly at least severely reckless in their misrepresentations, according to the SEC. The Peiffer Rosca Wolf securities lawyers are currently investigating Robert Helms and his alleged Ponzi scheme, and are particularly interested to talk with investors who bought securities through Sellers and Barrera.
Vendetta Sought to Raise $300 Million in Less than a Year; Vendetta and Iron Rock Allegedly Sold $31,422,861 in Limited Partnership Interests to 129 Investors, Indicating that 99% of Funds would be Used to Buy Royalty Interests
Vendetta began soliciting investors in July 2011 with the goal of raising $300 million in less than a year, while Sellers and Barrera allegedly worked for Helms and Kaelin, soliciting and negotiating investments in Vendetta, Iron Rock, and other entities, according to an SEC Motion currently under review by attorneys Alan Rosca and Joe Peiffer.
Helms and Kaelin, meanwhile allegedly raised roughly $31,422,861 selling limited partnership interests in Vendetta and Iron Rock to 129 investors, signaling that 99% of funds would be used to buy royalty interests, the SEC Motion notes.
As a result of the aforementioned behavior, Robert Helms, Janniece Kaelin, Deven Sellers, and Roland Barrera violated edicts of the SEC with Sellers and Barrera warranting permanent injunctive relief and joint liability for disgorgement in the amount of $423,500 subject to prejudgment interest of $36,243.87, and third-tier civil penalties of $150,000 each, the SEC Motion reports.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged investment fraud and Ponzi schemes, and are currently investigating Robert Helms and his alleged Ponzi scheme. They are particularly interested to talk with investors who bought securities through Sellers and Barrera, and usually 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.
The Peiffer Rosca Wolf securities lawyers would like to talk with investors who believe they lost money as a result of Robert Helms, Kaelin, Deven Sellers, and Roland Barrera’s alleged Ponzi scheme involving Vendetta and Iron Rock. You may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.