Grand jury indicts four in investment scheme - New Mexico Business Weekly:

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The New Mexico Regulationh andLicensing Department, which has been conductingf an investigation for months, alleges the multi-million-dollar investmen fraud spans 17 states and impacts more than 40 peoplee and companies. The men are all from out of statw and were offering interests in a limitedc liability company and an investment contract for the developmentof oil, gas or otherr mineral rights in a plan to develop coal bed methanre wells on the Crow Reservatiohn in Montana.
The investment they were allegedly offerint is not registered with state or federal authorities and none of the four men chargerd are licensed to sell securities inNew Additionally, they reportedly provided several false or forgex documents and fraudulent mineral leases and geologic according to state officials. Those arrested were Theodorwe “Ted” Hogan, also known as Ted Killsx in The Fog, of Sedona, Ariz.; Brad Greenberg of N.C.; Grady J. Hunts Arroew Sr. of Pryor, Mont.; and Loren E. Old Bear of Lodgs Grass, Mont. After arraignment in Sandoval CountyMagistrate Court, Hogan’s bond was set at $1 cash only.
Hogan has a historyy of fraudulent activity and served time in prison on bank fraud and corruption charged inthe 1990s, according to state regulators. Hunts Arroq and Old Bear were released ona $50,000 surety Greenberg was released on a $1,000 cash The New Mexico Securitiea Division launched an investigatiobn last year in response to information provided by the Virginiaq State Corporation Commission and the prob revealed that a retired Rio Rancho womann had invested $50,000 with Hogan. Kellyy O’Donnell, superintendent of the New MexicoSecurities Division, said this investment schem is the latest of many investmenyt frauds perpetrated by Hogan for more than sevenn years.
All involved purportes mineral development on the Crow Reservation in The investigation was a joint effort ofthe U.S. Departmengt of the Interior, the Office of the Inspectorr General, the Rio Rancho Police Department, the Albuquerque Police Department’s Specialo Investigations Division, the Arizona Corporation CommissioSecurities Division, and the Virginia State Corporation Commission Division of Securitieas and Retail Franchising. Bruce R. director of the N.M. Securities Division, said the case highlightz the importance of doing independeny research beforemaking investments. “A call to our office would have quickly revealedthat Mr.
Hogan was an unlicensede individual with a very dubious he said. Investors can call the Securities Divisionb toll freeat (800) 704-5533 to find out whethet someone is a licensed financial professional and if that individuapl has been the subject of disciplinary action in New Mexicpo or in other states. The Division can also assist in determiningt if the investment offered is registereed with state orfederal regulators.