Galveston energy company sues Minnesota man, alleging fradulent investment

By Molly English-Bowers | Sep 9, 2015

A Galveston County energy company is suing a Minnesota man, alleging a fradulent oil well deal.

Prida Energy filed a lawsuit Aug. 3 in Galveston County District Court against William J. Hudlow, an oil broker, alleging false representations of the amount of oil a Wyoming well would produce.

According to the complaint, Prida Energy invested $400,000 based on information the defendant provided via published and Internet-based advertisements in 2013, a website that has since been removed. The suit says Prida learned the investment opportunity was one big Ponzi scheme.

The plaintiff alleges fraudulent inducement, fraud by nondisclosure, statutory fraud in real estate, negligent misrepresentation and violation of the Texas Deceptive Trade Practices Act.

Prida Energy seeks attorney fees and court costs, actual, economic and exemplary damages--triple the actual amount--and other fees the court may rule just. It is represented by attorneys are Robert E. Booth and Andres Soto of Mills Shirley in Galveston.

Galveston County District Court case number 15-CV-0795.

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