An L.A. financier rebutted SEC accusations.
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Jason W. Smith, 44, whom the the Securities and Exchange Commission accused of fraud and selling unregistered securities in a civil suit filed in Los Angeles last week, said the agency had “harassed” investors in his Jason Smith Petroleum Co. into making claims of misleading, high-pressure sales tactics. Smith, who said he has raised about $1.5 million from more than 167 investors in his Wyoming oil project, denied that he misled the investors about the risks of oil investments.
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