A nearly $1.8 million penalty has been leveled by a federal judge against Texas attorney Gregory G. Jones in a fracking and securities fraud case. Jones was charged last year by the Securities and Exchange Commission for bilking investors in two securities offerings. One involved an oil and gas exploration deal and the other was a fracking water filtration business venture.
The charges were filed against Jones and the Aquaphex total Water Solutions in Fort Worth federal court. Jones is no longer eligible to practice law in Texas and was ordered this week to pay a combination of $1,176,534 in disgorgement and prejudgment interest and another $600,000 to the SEC as a penalty.
