GC Dropped Nearly $40K of Company Funds at Gentlemen’s Club, SEC Says

Wall Street’s top cop has charged the general counsel of a Texas-oil and gas company with violating a bevy of securities laws, including dropping almost $40,000 of company funds in a four-day period in 2014 at a Dallas gentlemen’s club.

Jeremy Wagers, general counsel chief operating officer of Breitling Energy Corp, faces charges that he violated anti-fraud and reporting provisions of the Exchange Act, including that he signed public filings “replete” with misrepresentations and omissions on material financial issues.

Wagers attorney Larry Friedman, of Friedman & Feiger in Dallas, said his client categorically denies the allegations.

“Wagers did what good lawyers do,” said Friedman. “They document deals. They give advice. ...