Hendersonville Company Ordered to Cease & Desist Sale of Securities
NASHVILLE –The Tennessee Department of Commerce & Insurance’s Securities Division has ordered Tennstar Energy, Inc. (formerly known as Black Gold Resources, Inc.) and its registered agent and president/CEO Jared G. Forrester to cease and desist from making illegal sales of unregistered securities to investors. A copy of the order can be found here.
Forrester, who operates his company at 103 Hazel Path Court, Suite 5 in Hendersonville, has never registered with the Department as a broker-dealer or investment adviser. However, he has sold numerous securities in Tennessee to investors both in Tennessee and across the U.S. through his websites TennstarEnergy.com and JGForrester.com since April 2011. The Securities Division alleges that investors were given false information about the profitability and lucrative potential of the investments with this company.
“Investors should always remember that it is unlawful for any person to transact business from or in this state as a broker-dealer, agent, investment advisor or investment advisor representative unless that person is properly registered as such,” said TDCI Assistant Commissioner for Securities Frank Borger-Gilligan. “These security laws are in place to protect the public and the investors in the state of Tennessee.”
Additionally, the company failed to disclose that its securities were not registered with the Department and have continued to offer securities for sale through the Tennstar website. Records show that the company had been operating under the name Black Gold Resources, Inc. but changed its name to Tennstar Energy, Inc.
Consumers who suspect they might be a victim of securities or insurance fraud, or if you would like to file a complaint or speak with an investigator, please contact the Tennessee Securities Division – Financial Services Investigations Unit at (615) 741-5900. To file a complaint online, visit https://tn.gov/commerce/article/securities-file-a-complaint.