Trouble for Clear Energy Technology Association, Inc. (CETA) and Freedom Impact Consulting LLC

The SEC is alleging that more than $155 million has been raised from investors through a fraudulent scheme related to Clear Energy Technology Association, Inc. (CETA), a company controlled by former Fairfield Mayor, Roy Hill and his associate, Eric N. Shelly. The Freestone County Times reports that investors were reportedly promised 10% quarterly returns based on false claims, including a nonexistent contract with ExxonMobil Corporation and the existence of patented CCUs. However, the CCUs are said to be at an early prototype stage, and the funds raised were allegedly misappropriated for personal expenses, payroll, and other undisclosed accounts.

According to the SEC Complaint, Hill and Shelly are accused of soliciting investors in an oil and gas-related fraudulent scheme. CETA claimed to lease carbon capture units (CCUs) to major oil and gas producers, purportedly enhancing hydrocarbon production and generating revenue. Shelly’s company, Freedom Impact Consulting, offered and sold investments in funds aimed at raising capital for CETA.

The SEC has taken an emergency action to halt all activities related to Clear Energy Technology Association, Inc. (CETA), a company controlled by Hill, and an investment company based in Pennsylvania. We suggest that any invest

Banks Law Office focuses on protecting investors from the actions of bad actors. If you are a victim of this alleged scheme, please  to discuss your options for potential recovery with an attorney who specializes in investmet fraud. Most of our cases are taken on a contingency fee which means you don’t owe us any money unless we get your money back.