The Securities and Exchange Commission has filed a civil lawsuit against three Lubbock-based companies and owner Blake Robert Templeton, accusing Templeton of lying to investors and conducting a Ponzi scheme.
According to the SEC, Templeton through is companies Boron Capital, LLC, Boron Holdings 2017, LLC and United BNB Fund 2018, LLC, raised the $18.7 million and used $14 million of the investor funds to buy and develop the Dallas Oasis, a wedding venue in Red Oak, Texas.
According to the venue website, the Dallas Oasis can accommodate over 550 guests and is built on 10-acres. The SEC said Templeton raised the to build and fund by lying to investors and saying they would be protected by collateral while they would not be, according to court documents.