Investigation: Mark Plummer, former Texas E & P Partners Broker, Ordered to Pay $500k for Improperly Spending Investor Funds

Finra barred both Plummer and his firm were from the securities industry in 2017

Brokerage firms have a duty to supervise the activity of their brokers and may be liable for misconduct. If you experienced investment losses with Texas E & P Partners, you may be eligible for recovery. Contact Sonn Law Group today by giving us a call at 866–827–3202 or filling out our form to schedule a free consultation.

Following a recent SEC complaint, Sonn Law Group is investigating claims involving investments with Texas E & P Partners.

In the complaint filed June 26, 2019, the SEC is alleging that Mark Allen Plummer (CRD# 1477836) of Texas E & P Partners, Inc. improperly spent investor funds for personal expenses. Specifically, Mr. Plummer allegedly made false representations to investors and spent nearly $400,000 on entertainment, travel, retail, and income taxes.

The company originally raised $6.1 million from investors between February 2015 and April 2017 by selling interests in joint ventures formed to operate two oil well projects. Mr. Plummer has agreed to pay over $500,000 to settle the charges, subject to court approval. The settlement includes $399,008 in disgorgement, $33,008 in prejudgment interest, and a $75,000 civil penalty.

FINRA expelled Texas E & P Partners from the securities industry effective January 2017.

Jeffrey R. Sonn is a securities fraud lawyer with more than three decades of successful experience representing investors nationwide. If you suffered illegitimate investment losses with Mark Plummer, Mr. Sonn can help. Contact our law firm today for a free case evaluation.