Tagged: ascenergy

October 30, 2019 @ 3:45 pm By JD Alois  |  

Back in 2015 during the earliest days of securities crowdfunding in the US, the first case of alleged fraud surfaced by an issuer using Reg D 506c. Ascenergy, a purported Oil & Gas company, along with CEO Joey Gabaldon and several relief defendants were the… Read More

August 16, 2017 @ 3:33 pm By JD Alois  |  

Some times the wheels of justice move slowly. And sometimes the documentation associated with these wheels lag as well. File this one under recently discovered. The Securities and Exchange Commission released, this past June, the Agreed Final Judgement regarding the case of the Ascenergy crowdfunding… Read More

December 29, 2016 @ 7:30 am By Samuel Guzik  |  

The beginning of a new year is typically accompanied by renewed hope and positive expectations. 2017 is no exception.  As a staunch advocate of promoting the interests of small business generally, and smart regulation of capital formation, in particular, 2017 stands out to me as… Read More

December 12, 2016 @ 8:12 am By JD Alois  |  

uFundingPortal (UFP LLC) went off-line last month after receiving regulatory approval to operate as a Reg CF funding portal earlier this year.  Crowdfund Insider reported the disappearance of the site in November as questionable companies were listed with bare bones information and outlandish valuations. Industry… Read More

August 20, 2016 @ 7:19 pm By JD Alois  |  

The case of the Ascenergy crowdfunding fraud came to light just as Reg CF or Title III crowdfunding rules were announced to the public in October of 2015.   Ascenergy, an aspiring oil and gas operation, had raised about $5 million from approximately 90 investors,… Read More

May 8, 2016 @ 7:17 pm By JD Alois  |  

The Securities and Exchange Commission has stepped up its public campaign against investment fraud in recent months. Either via social media or paid commercials, the SEC is clearly concerned as finance inevitably moves online.  This should come as no surprise to anyone that follows the… Read More

March 7, 2016 @ 4:00 am By Scott Andersen  |  

The recent economic downturn is not the only challenge for entrepreneurs in the EB-5 and JOBS Act industries.  Rather, the challenges include close regulatory scrutiny by the United States Securities and Exchange Commission’s (SEC) Division of Enforcement.  While both EB-5 and the JOBS Act were… Read More

January 7, 2016 @ 5:08 pm By JD Alois  |  

The SEC dedicates much of its time and resources hunting down crooks and white collar thugs. In fact, the agency spent almost a billion dollars in the last fiscal year fostering and enforcing compliance with Federal securities laws. And why is that? Because there will… Read More

December 24, 2015 @ 12:00 pm By Erin Hobey  |  

  “In 5 years, we will no longer talk about “Crowdfunding,” it will just be “funding.” Crowdfunding will just be one of the ways that early stage companies and SMEs gain access to capital.  Just like online trading of public securities is considered the primary… Read More

December 21, 2015 @ 7:45 am By Erin Hobey  |  

  “We believe the potential of crowdfunding is not about a single company or single crowdfunding platform.  It is about the evolution from an institutional framework for allocating capital (otherwise known as banks, funds, and foundations) to a more individually driven framework enabled by existing and… Read More

December 2, 2015 @ 8:00 am By JD Alois  |  

During the buildup to the Securities and Exchange Commission’s announcement regarding the final rules on Title III retail crowdfunding, the Commission filed a fraud case in the US District Court of Nevada.  The SEC accused Ascenergy, a company ostensibly in the oil and gas industry,… Read More

November 2, 2015 @ 4:00 pm By JD Alois  |  

Lost in all of the excitement of last weeks’ announcement from the SEC on Title III crowdfunding rules was a case of crowdfunding fraud.  According to the Securities and Exchange Commission, the agency halted a “fraudulent oil and gas crowdfunding scheme”.  The SEC has frozen… Read More

May 14, 2015 @ 12:18 pm By Erin Hobey  |  

With its elevator pitch of “Disrupting Big Oil: Crowdfunders get monthly guaranteed returns with equity upside,” Ascenergy has tapped into the crowd for its Crowdfunder campaign.  Seeking to raise $6M by 30 June 2015, the company has already raised  over $5,670,000, or 95% of its goal.   Investments $25,000… Read More