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SEC Sues ‘Frack Master’ for Investor Cash Spent on Strippers

  • Breitling’s Faulkner used proceeds on ‘whore card,’ SEC says
  • Regulator’s allegations ‘not true,’ lawyer for Faulkner says
Updated on

Calling himself the “frack master,” Texas businessman Chris Faulkner charmed hundreds of investors and major media companies into believing he had extensive experience in energy markets.

It turns out he had none and that at least $30 million he raised was spent on strippers, escorts, lavish vacations and other personal expenses, according to Wall Street’s top cop.