Texas State Securities Board takes action against Vision Asset Development, Golden Triangle Energy
The Texas State Securities Board on Wednesday accused the leaders of oil and gas companies Vision Asset Development Co. and Golden Triangle Energy Corp. of selling unregistered shares of stock and lying to investors about some payments.
The board issued an emergency cease and desist order, which requires the companies to stop selling securities. The order also accuses company leaders of failing to tell investors that they previously set up a Ponzi scheme and blew investors’ money at casinos.