Colorado man barred, fined for investment scheme in Chattanooga

NASHVILLE – Tennessee officials have have fined and permanently barred a Colorado man from selling securities for a Chattanooga-based natural gas and oil firm, described in a state order as a "scheme."

State Commerce and Insurance Commissioner Julie Mix McPeak says Steve S. Boulter of Central was fined $12,277.75 for his role in finding investors who gave money to Hixson businessman Harry F. Thompson and his Chattaco Inc. between 2012 through 2014.

Thompson allegedly told Boulter and other investors the money was going to purchase new leases on natural gas wells in Magoffin County, Ky.

The Department is also seeking sanctions against Thompson and Chattaco. A hearing was held Friday in that case. After taking the case under advisement, an administrative judge is expected to issue an initial order in furtherance of a fall hearing.

Read more: https://www.timesfreepress.com/news/breakingnews/story/2018/aug/06/man-fined-investment-scheme/476431/