SEC SUES GLENS FALLS BROKERAGE.(Business)

Byline: James Denn Business writer

A Glens Falls-based company running a nationwide sales operation in oil and gas drilling investments has been taken to court by the Securities and Exchange Commission in an attempt to halt its sales.

The civil action, initiated in U.S. District Court in Albany, alleges "violations of the registration and antifraud provisions of the federal securities laws."

The SEC, in its action against Silver Bow Resources and Chemical Corp. of Glens Falls and its chairman and principal stockholder Raymond J. Whalen, 57, of Warrensburg, also is seeking appointment of a receiver to take over certain assets of the company and its …