Thomas San Miguel

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26436 / December 11, 2025 Securities 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 Fraud On 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. Return to top SEC homepage About the SEC Budget & Performance Careers Commission Votes Contact Contracts Transparency Accessibility & Disability Artificial Intelligence FOIA Inspector General No FEAR Act Data Ombuds SEC Excess Personal Property Guidance Websites Investor.gov Related Sites USA.gov Site Information Plain Writing Privacy & Security Site Map Stay connected. Sign up for email updates. Your email address Sign Up X Facebook Instagram RSS YouTube Email Updates