“Frack Master”, Alleged Flip-Fraudster, Back In The Soup

Christopher Faulkner, who calls himself “Frack Master,” is in the news again.  Accused of committing an $80 million fraud in Texas, he has popped up in California with a new scam, according to a federal lawsuit. He and two partners are accused of duping investors in a real estate funding project, in which he promises big returns on a flipping strategy. A federal judge has frozen Faulkner’s business assets. The company is allegedly making false claims of  a proven record of double-digit returns over seven years, while in fact it has never engaged in any investor-funded real estate transactions. Faulkner once had a reputation in the energy industry as a promoter of fracking, and was treated as an expert in the media. According to the SEC, he lied about receiving a master’s degree from the University of North Texas and a doctorate from Concordia College. It was eventually revealed that he had no background in the petroleum industry at all. The SEC claimed that revenue from his energy company was”brazenly misappropriated” for travel, escorts, strip club visits and other entertainment.