Defendant Name:
Brooge Energy Limited
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
G1611B10
Initial Case Details
Legal Case Name
In the Matter of Brooge Energy Limited, Nicolaas Lammert Paardenkooper, and Lina Saheb
First Document Date
22-Dec-2023
Initial Filing Format
Administrative Action
File Number
3-21816
Allegation Type
Issuer Reporting and Disclosure
AAER
4480
Violations Alleged
•
Sec 17(a) (Not specified)
•
Rule 13a-16 Exchange Act
Additionally,
Nicolaas Lammert Paardenkooper is alleged to have caused Brooge Energy Limited's violation of Rule 12b-20 of the Exchange Act.
Lina Saheb is alleged to have caused Brooge Energy Limited's violation of Rule 12b-20 of the Exchange Act.
Nicolaas Lammert Paardenkooper is alleged to have caused Brooge Energy Limited's violation of Sec 13(a) of the Exchange Act.
Lina Saheb is alleged to have caused Brooge Energy Limited's violation of Sec 13(a) of the Exchange Act.
Nicolaas Lammert Paardenkooper is alleged to have caused Brooge Energy Limited's violation of Rule 13a-1 of the Exchange Act.
Lina Saheb is alleged to have caused Brooge Energy Limited's violation of Rule 13a-1 of the Exchange Act.
Nicolaas Lammert Paardenkooper is alleged to have caused Brooge Energy Limited's violation of Sec 13(b)(2)(A) of the Exchange Act.
Lina Saheb is alleged to have caused Brooge Energy Limited's violation of Sec 13(b)(2)(A) of the Exchange Act.
Nicolaas Lammert Paardenkooper is alleged to have caused Brooge Energy Limited's violation of Sec 14(a) of the Exchange Act.
Lina Saheb is alleged to have caused Brooge Energy Limited's violation of Sec 14(a) of the Exchange Act.
Nicolaas Lammert Paardenkooper is alleged to have caused Brooge Energy Limited's violation of Rule 14a-9 of the Exchange Act.
Lina Saheb is alleged to have caused Brooge Energy Limited's violation of Rule 14a-9 of the Exchange Act.
Nicolaas Lammert Paardenkooper is alleged to have caused Brooge Energy Limited's violation of Rule 13a-16 Exchange Act.
Lina Saheb is alleged to have caused Brooge Energy Limited's violation of Rule 13a-16 Exchange Act.
Resolutions
First Resolution Date
22-Dec-2023
Headline Total Penalty and Disgorgement
$5,000,000
Related Documents:
33-11260
22-Dec-2023
Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On December 22, 2023, the SEC instituted cease-and-desist proceedings against Brooge Energy Limited, Nicolaas Lammert Paardenkooper, and Lina Saheb stating: "These proceedings arise out of an accounting and offering fraud by Brooge, which
is a publicly-traded company that owns and operates an oil storage facility in Fujairah, United
Arab Emirates."
2023-256
22-Dec-2023
Press Release--Administrative Proceeding
SEC Charges UAE-Based Brooge Energy and Former Executives with Fraud
On December 22, 2023, the SEC "announced fraud charges
against Brooge Energy Limited, a publicly-traded energy company located in the United Arab Emirates, the
company’s former CEO, Nicolaas Lammert Paardenkooper, and its former Chief Strategy Officer and Interim CEO,
Lina Saheb."
34-99589
23-Feb-2024
Administrative Proceeding
Extension Order
The Commission ordered that: "the Division’s
request for an extension of time until November 29, 2024 to submit a Proposed Plan of
Distribution is granted."
34-99901
03-Apr-2024
Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Miller Kaplan Arase LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."
34-101068
17-Sep-2024
Administrative Proceeding
Order Appointing Fund Administrator, Setting Administrator's Bond Amount, and Authorizing the Approval and Payment of Fees and Expenses of Administration
The Commission ordered that: "A. Rust is appointed as the Fund Administrator . . . ; B. Rust shall obtain a bond . . . in the amount of $5,200,000.00; C. The Fund Administrator will submit invoices to the Commission staff for services rendered . . . ; and D. At the direction of an Assistant Director of the Office of Distributions, OFM is authorized to pay the Fund Administrator's fees and expenses from the Fair Fund . . . , so long as the total amount paid to the Fund Administrator, including the invoice to be paid, does not exceed the total amount of the approved cost proposal submitted by the Fund Administrator."
34-101757
26-Nov-2024
Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of monies paid in the above-captioned matter."
Proposed Plan of Distribution
The Commission stated: "The Division of Enforcement submits this Proposed Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission (the “Commission”) . . . . This Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of civil money penalties collected from Brooge Energy Limited (“Brooge”), Nicolaas Lammert Paardenkooper (“Paardenkooper”), and Lina Saheb (“Saheb” and collectively, “Respondents”) in the above-captioned matter."
Other Defendants in Action:
