Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Sunday, July 15, 2012

U.S. Indicts Provident Founders for Mail Fraud

Two founders of Provident Royalties LLC, Brendan Coughlin and Henry Harrison, were indicted last week on multiple counts of mail fraud.  From 2006-09, firms sold Provident oil and gas deals promising 18% returns  to over 7500 investors for a total of $485 million.  The SEC settled civil charges earlier this year, and FINRA suspended from the industry Coughlin and Harrison for two years.  Inv News, Provident Royalties founders indicted in $485M private placement fraud case

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