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SEC Says Energytec CEO Lied About His Past

DALLAS (CN) - Energytec CEO Don Lambert committed securities fraud by misrepresenting his history: his conviction and incarceration for felony securities fraud, his disbarment by the Texas Bar in 1994, his multiple bankruptcies, and other omissions and false statements in securities filings, the SEC claims in Federal Court.

Lambert, 61, lives in Terrell Texas. He is accused of certifying false or inaccurate registration statements Energytec filed with the SEC in 2005, and an annual report in 2006.

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