SEC: Texas ‘Man Of God’ Ran Nigerian ‘Oil Tanker’ Scheme On Elderly Christians Who Believe He’ll Still Deliver; One Widow May Be Out More Than $1 Million

LeMaire spent at least $971,825 on debit-card purchases and withdrew at least $1.13 million in cash, the SEC said. Record further showed that he transferred more than $503,000 to Nigeria via Western Union or MoneyGram.

The international transfers were sent to more than 60 people. None of the transfers exceeded $9,000. LeMaire also sent $140,000 to two companies in Florida “controlled by an individual who subsequently pleaded guilty to money laundering in U.S . v Roda Abul Taher, a/k/a Fateh Ikram Sakkal . . .

“This individual stated that he did not know LeMaire but received instructions by telephone from Nigeria telling him when these deposits were coming and instructing him to forward the funds to bank accounts in China,” the SEC said. “Nothing about the transfers appears to be related to the purchase or sale of Nigerian oil.”

“Petrogas investors continue to believe LeMaire’s stories, explanations, and excuses, and those that still have savings or disposable income continue to invest in Petrogas whenever LeMaire comes calling,” the SEC said.

“Unfortunately, most of the Petrogas investors have depleted their savings and retirement funds, and not only can no longer afford to invest with LeMaire, but many can no longer afford to pay rent, purchase needed medicines, make mortgage payments, or fix their air conditioners.”

At least one investor — described in court documents as a woman — has given LeMaire “everything” she had, with “everything” being defined as “over $1 million,” the SEC said.

Although the woman no longer had anything to give when approached by LeMaire in late May, she told her late husband’s golf partner about his purported need to raise funds to pay taxes on the oil, and the golf partner and a friend plunked down $20,000 amid promises of a high return, the SEC said.

On June 1, the SEC said, the agency learned that LeMaire “recently” had reached out to a group of investors “who were planning to hold a prayer meeting,” the SEC said.

The agency has gone to court seeking an emergency injunction to stop LeMaire’s alleged scheme in its tracks.

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