Exclusive: Texas energy fund shuts, founder says millions squandered – HEDGE accordingly
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By Shariq Khan (Reuters) – The founder of a Texas oil and gas investment firm that raised about $31 million shut the business this month and acknowledged in a Reuters interview that he had squandered investors’ cash on “bad” and “non-arm’s-length” deals. Christopher Bentley, who founded Bellatorum Resources LLC in 2016 and raised funds from about 150 wealthy individuals, closed its doors on April 9 and contacted U.S. prosecutors. His firm bought mineral rights in Texas shale fields, betting on appreciation as oil and gas drilling rose. The Federal Bureau of Investigation and Department of Just…

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HEDGE accordingly