The case against Chris Faulkner, the self-proclaimed “Frack Master” who allegedly perpetrated an $80 million oil and gas securities fraud, now has drawn in his ex-wife and a friend, the Securities and Exchange Commission announced on Wednesday.
A federal district court judge in Texas ruled on Friday that Tamra M. Freedman, Faulkner’s ex-wife, has to pay $900,000 for ill-gotten money she allegedly received from Faulkner through the fracking scheme. A similar order to pay $222,000 was issued against Jetmir Ahmedi, Faulkner’s friend, in February. Neither Freedman nor Ahmedi admitted or denied guilt in the matter.
Faulkner and others raised $80 million from investors by convincing them, and numerous people in the media, that he had extensive experience investing in energy through his firm, Breitling Energy Corp. Instead, millions of dollars were spent on escort services, gentlemen’s clubs and lavish vacations, according to the SEC. That case is ongoing. During his heyday between 2012 and 2016, Faulkner appeared on CNBC, CNN, and Fox Business News and hosted a weekly radio show in Dallas.
In June, the U.S. Attorney's Office for the Northern District of Texas brought criminal securities fraud, mail fraud and money laundering charges against Faulkner. In August 2017, Breitling Energy Corp. and Faulkner’s other company, Breitling Oil and Gas Corp., were placed under the control of a court-appointed receiver.