Securities News Releases
Wednesday, October 27, 2010
Contact: Laura Egerdal, (573) 526-0949
Carnahan Statement on Criminal Charges filed against Owen Hawkins of Petro America for Securities Fraud
Jefferson City, Missouri – Secretary of State Robin Carnahan released the following statement in response to the criminal charges filed today against Owen Hawkins by U.S. Attorney Beth Phillips.
“I applaud the U.S. Attorney’s office for taking action to hold Owen Hawkins accountable for his dishonest and illegal behavior. There is no place in our state for scam artists that prey on the savings of hardworking Missourians, and my office will continue to work with state and federal law enforcement agencies to crack down on these scams.”
On May 19, officials in Carnahan’s Securities Division issued an enforcement order against Hawkins and Petro America, which is available online at http://www.sos.mo.gov/securities/orders/AP-08-26a.asp. The order found Hawkin’s fraudulent sale of unregistered investments in Petro America violated state securities laws. According to the order, Hawkins sold the investments to more than 300 Missourians, who were told that a $100 investment would eventually have a value of $200,000. To date, Hawkins has failed to pay any portion of the more than $40,000 in penalties and costs assessed against him and Petro in that order.
For more information regarding investments and fraud protection, visit the Secretary of State's online Missouri Investor Protection Center at www.MissouriSafeSavings.com or call the toll free Investor Protection Hotline at 1-800-721-1996.
-- 30 --