Many of us have been defrauded by Kay Rieck, his lackies and his companies. Instead of giving up, we are organizing a call for litigation. We will not rest until we put a stop to the fraudulent activities and the Ponzi scheme of Kay Rieck.
As investors, we were repeatedly assured that Rieck’s network and international reputation would facilitate the promises he made. We were then unwittingly led into a Ponzi scheme and have subsequently discovered that the bulk of his businesses and activities as an oil magnate are fraudulent.
Our mission is to pursue legal action against Kay Rieck and provide other potential investors with a closer look into Kay Rieck’s criminal practices.
As his Twitter account and website declare, Kay Rieck is the head of Deutsche Oel & Gas, but a lot about his past remains unclear.
His website maintains that he has a background as a stockbroker. However, no trace of his past experience can be found anywhere online or in any records we have seen.
The next step in Rieck’s illustrious career was Furie Petroleum CO LLC which he founded in 2008. As expected, it involved a lawsuit where a service provider who helped Mr. Rieck obtain government permits for oil rig relocations sued Furie Petroleum for breach of contract in a legal proceeding. The case of Furie Petroleum Co. Vs. Ben Barnes Grp in Travis Country, 343RD Judicial District No.D-2-GN-13-003500 outlines how Mr. Rieck essentially refused to pay his provider.
Although Rieck was the sole manager and member of Furie Petroleum, he escaped the suit unscathed and continues to do business in Texas and has been racking up many more fraudulent records along the way.
In 2012, Rieck assumed a position as Chairman of the Board of Deutsche Oel & Gas AG (DOGAG) in Stuttgart.
The company’s YouTube channel attempts to show off all of the supposed oil and gas rigs, but it all looks like a collage of National Geographic videos and stock footage dubbed over with German narration.
A number of individuals have rubbed shoulders with Rieck, who continued on his fraudulent path. In a 2016 short video interview with a German financial publication, he talked about an IPO scheduled to take place in 2017, boasting that the risk was over and that revenues would begin to flow.
No such IPO was ever launched.
The bankruptcies filed for the daughter companies under Furie Operating Alaska LLC are numerous. It remains unclear how these companies continually promised extraordinary returns and revenue but ended up bankrupt.
On August 9th, 2019 Furie Operating Alaska LLC , Cornucopia Oil & Gas and Corsair Oil & Gas filed for bankruptcy under the US Bankruptcy Code in the US Bankruptcy Court for the District of Delaware.
Incorporated in 2011, the company is now bankrupt and officially carrying the status of “Forefeited Franchise Tax”, which means the incorporate company failed to file its franchise tax return or to pay the taxes it owed.
A German financial report published in January outlined the ruling of the Higher Regional Court of Celle, Germany in which Rieck was sentenced to reimburse the plaintiff for his invested capital. Furthermore, the court found that the prospectus Rieck offered was grossly lacking essential information.
This article describes a 2016 lawsuit was filed against Mr. Rieck and other executives for deliberately hurting investor rightsIt goes on to demonstrate a bonds structure that suggests a pyramid scheme, more commonly known as a Ponzi scheme. It is likely that DOGSA investors were used to pay out the funds provided to ECI investors. In addition to mentioning DOGSA, the article also shows that Rieck was the company’s backer.
Let us know if you’re interested in joining our litigation or if you’d like to support our initiative. Email us:
Kay Rieck is a fraudulent individual posing as a successful businessman with promising opportunities. We are investors exposing Kay Rieck for fraud and calling for a litigation. And we have the evidence to prove it.
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