The U.S. Securities and Exchange Commission sued Clean Energy Technology Association Inc., a hydrocarbon recovery company, and other defendants Wednesday in Texas Western District Court over alleged violations of federal securities laws. The emergency action seeks to stop the defendants from soliciting investors in an oil and gas-related fraudulent scheme. According to the suit, the defendants have raised $155 million from over 500 investors by making false statements regarding leasing carbon capture units to major oil and gas producers in exchange for compensation. The case is 6:23-cv-00321, United States Securities and Exchange Commission v. Hill et al.
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