US SEC Sues Geosyn Mining for $5.6M Fraud, Fake Rig Claims Exposed

The United States Securities and Exchange Commission (SEC) has initiated legal proceedings against Geosyn Mining and its co-founders, Caleb Joseph Ward and Jeremy George McNutt, alleging a series of fraudulent activities. This lawsuit, officially filed on April 24 in a federal court situated in Fort Worth, Texas, presents a serious accusation against Geosyn. According to the SEC, Geosyn is purported to have defrauded approximately 64 investors through the sale of service agreements masquerading as securities.