Clean Energy Technology Association, Inc.
The Clean Energy Technology Association, Inc. (CETA) in Fairfield, TX, was placed into receivership on May 3, 2023, when the United States District Court for the Western District of Texas appointed Albert C. Black III as receiver in response to a civil enforcement lawsuit by the Securities and Exchange Commission (SEC). The SEC's findings suggested that CETA had raised over $155 million from more than 500 investors without engaging in revenue-producing operations, using incoming investor funds to pay previous investors.
Following the appointment of the Receiver, CETA's offices were closed, and the Receiver has focused on securing assets and records. A preliminary report detailing the financial situation and extent of investor losses is under investigation, with ongoing updates to be provided as more information becomes available.
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