CETA Energy Receivership
ASSET FREEZE AND APPOINTMENT OF FEDERAL EQUITY RECEIVER
On May 3, 2023, the United States District Court for the Western District of Texas appointed Albert C. Black III as receiver for Roy W. Hill, Eric N. Shelly, Clean Energy Technology Association, Inc., and Freedom Impact Consulting, LLC (Order Appointing Receiver).
The appointment was in furtherance of a civil enforcement lawsuit filed by the Securities and Exchange Commission (Complaint). The SEC presented evidence (Appendix), pursuant to which the Court found the SEC had a probable right to recovery, that a temporary restraining order should issue (TRO), and that the Receiver should be appointed.
On May 11, 2023, the Defendants agreed to the entry of preliminary injunctions, which were entered the following day, thus confirming the entry of the TRO was proper.
CONTACT THE RECEIVER
The Receiver’s first obligation is to secure assets and records. Since his appointment, the Receiver has been principally engaged in carrying out this duty. To further complete the records being collected, the Receiver has been accepting submissions from investors. To submit a statement and records to the Receiver, or to direct other correspondence to the Receiver’s attention, please use this link: Contact Us.
RECEIVER’S INITIAL REPORT
The Receiver has concluded CETA did not have revenue producing operations, but instead payments to investors were made with investor money. The accounting prepared by the SEC indicates Defendants raised at least $155 million from over 500 investors. The extent of the investor loss is presently under investigation.
The Receiver has prepared and filed a preliminary report (Preliminary Report).
The Receiver will be presenting a more detailed initial report no later than June 2, 2023. The Receiver’s reports will be posted on this site. The Receiver has closed the CETA offices. Any communications concerning CETA should be directed to the Receiver through this site. If you are an investor, please provide your email to be added to the Receiver’s distribution list.