Ponzi schemes didn’t die in prison with Bernie Madoff.

Private plaintiffs’ attorneys, trial lawyers but not the typical billboard kind, represent seven parish governments suing more than 200 oil and gas companies in 43 coastal lawsuits. They seek damages from the companies for, principally, oil and gas exploration over a half-century — all the business having been conducted according to state and federal regulations.

Most of the lawsuits were filed in 2013. The state Department of Natural Resources, which issues drilling permits, hasn’t written one violation for any of the major oil companies in any of these lawsuits. The companies were not cited by the regulators because they didn’t do anything wrong.

Those silver-tongued trial lawyers talked two legislators into filing Senate Bill 233 and House Bill 569. The…

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Read full article at scamguards.org


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