SEC v. Thomas San Miguel, No. LR-26436, Southern District of Texas (Dec. 11, 2025) — Press Release
raw: Thomas San Miguel
Thomas San Miguel, No. 4:24-cv-02805 (Dec. 11, 2025)
Thomas San Miguel, former CEO of SGR Energy, Inc., secured a final judgment for orchestrating a $21.3 million fraudulent securities offering through false claims of dividends and revenue.
Thomas San Miguel, the founder and former CEO of SGR Energy, Inc., was charged with conducting an unregistered and fraudulent securities offering that raised approximately $21.3 million from over 300 investors. He misled investors with false claims regarding 12% annual dividends, escalating profits, and a $19 million account receivable. The final judgment imposes a $700,000 civil penalty and an officer-and-director bar for violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.
The SEC obtained a final judgment against Thomas San Miguel, the former CEO of Houston-based SGR Energy, Inc., for orchestrating a fraudulent and unregistered securities offering. San Miguel raised approximately $21.3 million from more than 300 investors by making misleading claims about 12% annual dividends, rising profits, and a $19 million account receivable. He promised to use the capital to expand fuel-blending operations and acquire strategic assets, such as a large capacity terminal in Colombia. Without admitting or denying the allegations, San Miguel consented to a judgment that includes a permanent injunction and an officer-and-director bar. He is also required to pay a $700,000 civil penalty to resolve violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. The litigation was supervised by the SEC’s Fort Worth Regional Office.
Extracted insights
- $21.30M $21.3 million $10M–$100M
- $19.00M $19 million $10M–$100M
- $700K $700,000 $100K–$1M
- person final judgment
- agency keefe bernstein of the sec’s fort worth regional office
- agency Securities and Exchange Commission
- person thomas san miguel
- court u.s. district court for the southern district of texas
- Securities And Exchange Commission obtained final judgment against Thomas San Miguel, founder and former Chief Executive Officer of SGR Energy, Inc.
- Thomas San Miguel raised approximately $21.3 million from over 300 investors nationwide through the fraudulent and unregistered offer and sale of preferred stock in SGR Energy
- Thomas San Miguel lured investors with false and misleading claims of a 12% annual dividend, escalating revenue and profits, and a $19 million account receivable on SGR Energy’s balance sheet
- Thomas San Miguel told investors he would use their funds to grow SGR Energy’s fuel-blending business by expanding the geographical scope of its customers and acquiring strategically situated blending facilities and fuel terminals, including the purported acquisition of a large capacity terminal in Colombia
- U.S. District Court for the Southern District of Texas entered final judgment against Thomas San Miguel
- Thomas San Miguel consented to entry of a final judgment that permanently enjoins him from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Sections 5 and 17(a) of the Securities Act of 1933
- Final judgment imposes a conduct-based injunction and an officer-and-director bar
- Final judgment orders Thomas San Miguel to pay a $700,000 civil penalty
- Securities And Exchange Commission supervised litigation by Keefe Bernstein of the SEC’s Fort Worth Regional Office
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26436 / December 11, 2025Securities and Exchange Commission v. Thomas San Miguel, No. 4:24-cv-02805 (S.D. Tex. filed July 29, 2024)SEC Obtains Final Judgment Against CEO of Houston-Based Energy Company Charged with FraudOn November 30, 2025, the U.S. District Court for the Southern District of Texas entered a final judgment against Thomas San Miguel, founder and former Chief Executive Officer of SGR Energy, Inc., a Houston-based fuel-blending business, for engaging in an unregistered and fraudulent securities offering.The SEC’s complaint, filed on July 29, 2024, alleged that San Miguel raised approximately $21.3 million from over 300 investors nationwide through the fraudulent and unregistered offer and sale of preferred stock in SGR Energy. According to the SEC's complaint, San Miguel lured investors with false and misleading claims of a 12% annual dividend, escalating revenue and profits, and a $19 million account receivable on SGR Energy’s balance sheet. San Miguel told investors that he would use their funds to grow SGR Energy’s fuel-blending business by expanding the geographical scope of its customers and acquiring strategically situated blending facilities and fuel terminals, including the purported acquisition of a large capacity terminal in Colombia.Without admitting or denying the SEC’s allegations, San Miguel consented to the entry of a final judgment that permanently enjoins him from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Sections 5 and 17(a) of the Securities Act of 1933. The final judgment also imposes a conduct-based injunction and an officer-and-director bar and orders San Miguel to pay a $700,000 civil penalty.The SEC’s litigation was supervised by Keefe Bernstein of the SEC’s Fort Worth Regional Office.
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26436 / December 11, 2025Securities and Exchange Commission v. Thomas San Miguel, No. 4:24-cv-02805 (S.D. Tex. filed July 29, 2024)SEC Obtains Final Judgment Against CEO of Houston-Based Energy Company Charged with FraudOn November 30, 2025, the U.S. District Court for the Southern District of Texas entered a final judgment against Thomas San Miguel, founder and former Chief Executive Officer of SGR Energy, Inc., a Houston-based fuel-blending business, for engaging in an unregistered and fraudulent securities offering.The SEC’s complaint, filed on July 29, 2024, alleged that San Miguel raised approximately $21.3 million from over 300 investors nationwide through the fraudulent and unregistered offer and sale of preferred stock in SGR Energy. According to the SEC's complaint, San Miguel lured investors with false and misleading claims of a 12% annual dividend, escalating revenue and profits, and a $19 million account receivable on SGR Energy’s balance sheet. San Miguel told investors that he would use their funds to grow SGR Energy’s fuel-blending business by expanding the geographical scope of its customers and acquiring strategically situated blending facilities and fuel terminals, including the purported acquisition of a large capacity terminal in Colombia.Without admitting or denying the SEC’s allegations, San Miguel consented to the entry of a final judgment that permanently enjoins him from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Sections 5 and 17(a) of the Securities Act of 1933. The final judgment also imposes a conduct-based injunction and an officer-and-director bar and orders San Miguel to pay a $700,000 civil penalty.The SEC’s litigation was supervised by Keefe Bernstein of the SEC’s Fort Worth Regional Office.