Hidalgo Mining Corp., SEC Charges with Fraud | Goodman & Nekvasil P.A. May Recover Investor Losses
SEC Charges Hidalgo Mining Corp with Fraud
The Securities and Exchange Commission has charged a Florida-based mining company and its owners with defrauding investors in an unregistered securities offering involving a silver mine located near Mexico City, Mexico.
The SEC’s complaint alleges that from at least August 2009 through March 2013, Hidalgo Mining Corp. and its principals John W. Boyer and Joshua F. McAlees raised approximately $10.35 million from about 85 investors nationwide, purportedly to fund mining operations for a silver mine located near Mexico City, Mexico. Boyer, McAlees, and a team of sales agents they employed promised investors that, in exchange for their investment, they would have the right to the future production of silver from the mine at a certain price per ounce or a cash payout. But, Hidalgo, Boyer and McAlees didn’t tell investors that 10% of their money would be used to pay sales commissions. Boyer and McAlees also allegedly didn’t tell investors that they didn’t have the immediate financial ability to simultaneously make good on about $3.5 million of investor principal they personally guaranteed, had they been called upon to honor all of those guarantees simultaneously. In March 2013, according to the complaint, Hidalgo, Boyer and McAlees stopped raising capital from investors.
Investors in Hidalgo Mining Corp. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Hidalgo Mining Corp., Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in Hidalgo Mining Corp. and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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