T-Bar Resources LLC and Tommy Eugene Barber

On November 30, 2007, the SEC obtained a preliminary injunction, asset freeze and other relief by consent against T-Bar Resources, LLC and its principal, Tommy Eugene Barber.  According to the complaint, the defendants engaged in fraudulent conduct in connection with three oil and gas securities offerings -- Arrowhead, Sierra and Sidnee -- between May 2006 and November 2007 where Barber raised through the offerings almost $14 million from over 300 investors nationwide.  In regard to the offerings, the SEC alleged that although T-Bar and Barber represented that investor funds would be held in escrow until 80 percent of the total offering amount had been raised, T-Bar and Barber immediately diverted, and to a large extent misappropriated, the funds. 

For more information about the SEC’s action, you can read Litigation Release No. 20377 (Nov. 30, 2007).

The Court also appointed Robert Shepard, Esq., as Receiver to marshal and conserve the assets of T-Bar and Barber for the benefit of investors.  If you have questions, you can contact Mr. Shepard at rshepard@phmsw.com.

http://www.sec.gov/divisions/enforce/claims/tbarresources.htm