Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

April 15, 2014

State regulators probe Portland-based treasure hunter

The Maine Office of Securities is seeking information from Maine residents who have invested or been approached about investing in the treasure-hunting activities of Sea Hunters L.P., Sea Hunters 2 L.P., Deep Sea Hunters, L.P or Greg Brooks.

Brooks, a co-founder of Sub Sea Research LLC based in Portland, was named late last year in a lawsuit filed by a group of 18 investors who asked a U.S. District Court judge to strip Brooks of his rights to continue a salvage effort to recover a reported $3 billion in platinum from a British freighter shipwrecked 50 miles off Cape Cod during World War II.

A press release on the Office of Securities website asks potential investors who may have been contacted by Brooks or his representatives or attended a presentation outlining his undersea recovery efforts to contact the Department of Professional and Financial Regulation, Office of Securities, at 1-877-624-8551.

That office protects Maine investors by investigating and prosecuting violations of securities laws; licensing broker-dealers, agents, investment advisers and investment adviser representatives; and reviewing registration statements and exemption filings for securities issuers that are seeking to sell in Maine.

Attorney Jay McCloskey, representing Brooks, told the Bangor Daily News his client’s companies have provided information about their business and investors in response to a request from the state office. McCloskey told the newspaper the state office’s request for information is complicated by two pending federal cases against companies operated by Brooks.

Sign up for Enews

Comments

Order a PDF