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Former Head Of Dallas Energy Company Sentenced For Securities Fraud, Money Laundering

October 24, 2018 - 6:29 am

DALLAS (1080 KRLD) - The former head of Dallas-based Breitling Energy has been sentenced to 12 years behind bars after pleading guilty to a variety of charges including securities fraud and  money laundering.

Chris Faulkner,  who proclaimed himself the "Frack Master," was arrested in 2016 . 

The  Securities and Exchange Commission claims he faked a college degree and business experience to convince business and political leaders he was an oil and gas expert and used those connections to defraud investors out of $80 million.

As part of his  plea deal, Faulkner must also repay $24-million.