Notable litigation filed during April 2024 includes Fielder v. Bullock.
Fielder v. Bullock, No. 16-JCV-24-641 (Ark. Cir. Ct.).
Plaintiff, individually, as Power of Attorney for his parents, and as Trustee of the Fielder Living Trust, filed suit against a defendant schemer in Arkansas state court for losses arising from an alleged Ponzi scheme run through Natural State Alternative Fund, LLC (the “Fund”), which allegedly had well-established and successful oil and gas operations in Texas. The complaint alleges that defendant Cody Bullock (“Bullock”), operated a Ponzi scheme by acting as a financial advisor and inducing plaintiff to invest into the Fund, when in reality, the Fund was a shell company that Bullock owned to funnel money into a larger, different outfit in Texas called “Heartland” which, according to the SEC, defrauded over 700 investors out of $122 million. The SEC alleged from at least October 2018 to October 2021, Heartland mixed investor funds in numerous unrelated-companies, made Ponzi-payments to investors without their knowledge, and lied about using investor proceeds to invest in legitimate oil and gas wells and projects. Plaintiff seeks recovery of monetary and punitive damages as well as attorneys’ fees and expenses under theories of violation of the Arkansas Securities Act § 23-42-106 and common law fraud.
