$41 million stock fraud scheme in Tulsa, Deep Rock Oil & Gas and Global Beverage Solutions

Indictment unsealed Tuesday in federal court charged five men from Oklahoma, Texas, Kentucky and the Bahamas in connection with what prosecutors said was a $41 million stock fraud scheme.The 24-count indictment returned by a grand jury alleged that between April 2004 and December 2005, the five men devised and engaged in a so-called "pump and dump" scheme in which they manipulated three publicly traded "penny stocks," which are common stocks that trade for less than $5 per share in the over-the-counter market, instead of on national exchanges.Charged in the indictment were 47-year-old attorney G. David Gordon of Tulsa; 61-year-old Richard Clark of Tulsa; 50-year-old attorney James Reskin of Louisville, Ky.; 41-year-old Dean Sheptycki, a resident of the Bahamas; and 35-year-old Dallas-area resident Joshua Wayne Lankford.
All but Lankford were arrested Tuesday. Gordon and Clark were to make initial court appearances in Tulsa, while Reskin was set to do the same in Louisville. U.S. Attorney David E. O'Meilia said Sheptycki was arrested by Bahamian authorities and is awaiting extradition to the U.S.Lankford is considered a fugitive, O'Meilia said.
Court documents regarding the case had not been electronically filed as of early Tuesday night and it was not known if any of those charged had lawyers.Also Tuesday, in a related action, the Securities and Exchange Commission filed a civil enforcement action in federal court in Tulsa against Gordon, Lankford and Sheptycki.
The companies whose stocks were manipulated included two in Tulsa, Deep Rock Oil & Gas and Global Beverage Solutions, formerly known as Pacific Peak Investments. The third, National Storm Management Group, Inc., has its headquarters in Glen Ellyn, Ill.The indictment charges all five men with one count of conspiracy to commit securities fraud, wire fraud and money laundering; nine counts of wire fraud; five counts of security fraud; and six counts of money laundering in connection with the manipulation of the three penny stocks.Gordon also is charged with one count of making a false statement in a matter within the jurisdiction of the SEC regarding the scheme to defraud.