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Commissioners Orders New Mexico Company to Pay Over $450,000 in Restitution for Offering and Selling Stock in a Dissolved Company

The Corporation Commission orders Wattenberg 1, LLC to pay $453,880 in restitution and a $35,000 administrative penalty for fraudulently offering and selling stock in a dissolved company.

The Corporation Commission found that Wattenberg 1, LLC. fraudulently offered and sold unregistered securities to at least 19 investors while not registered as a securities salesman or dealer. Wattenberg 1, LLC was organized in New Mexico by Sharon Depriest and managed by Michael French. David Paul French, who was sanctioned by the Corporation Commission [see Decision No. 77880] in January of 2021, also fraudulently offered and sold unregistered securities on behalf of Wattenberg 1 and others.

All documents relating to this agenda item can be found in the Corporation Commission's online docket at https://edocket.azcc.gov and entering docket number S-21105A-20-0114.

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