LUBBOCK, Texas — On Monday, the Securities and Exchange Commission filed a civil lawsuit against three Lubbock-based companies and owner Blake Robert Templeton. The SEC accused Templeton of lying to investors and conducting a Ponzi scheme.

The SEC said Templeton, through his companies Boron Capital, LLC, Boron Holdings 2017, LLC and United BNB Fund 2018, LLC, raised the $18.7 million and used $14 million of the investor funds to buy and develop the Dallas Oasis, a wedding venue in Red Oak, Texas.

According to the venue website, the Dallas Oasis can accommodate over 550 guests and is built on 10-acres.

The SEC claimed Templeton raised the money to build and fund the venue by lying to investors.

Templeton was accused of soliciting investments by saying they would be protected by collateral while they would not be, according to court documents.

The SEC claimed Templeton obtained a $3.5 million loan from one investor in exchange for a deed of trust in Dallas Oasis. As of May 2022, Templeton owed over $4 million to the investor, with the property used as collateral appraised at $2.15 million, according to court documents.

The SEC claimed in court documents that Templeton would pay out interest to existing investors using funds given from new investors. That is a Ponzi scheme, as defined by the SEC website.

EverythingLubbock.com reached out to several people attached to this case and will provide updates when necessary.