Mine Shaft Brewing Charged by SEC | Recover Investment Losses

Mine Shaft Brewing Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC: 

The Securities and Exchange Commission today announced charges against a Utah-based company and its principals for an alleged offering fraud that raised at least $2.7 million from more than 100 individual investors.

According to the SEC’s complaint, filed in federal district court in Salt Lake City, Utah, recidivist Timothy Andrew Nemeckay, John Allen Logan, and Charles Vernon Whittington told investors that their funds would be used to develop the Mine Shaft Brewery, which included building a brewery, restaurant, and retail store. Investors were allegedly told that approximately 70% of invested funds would be used to acquire brewery and restaurant equipment and to purchase a building or make improvements to an existing building, with the remaining 30% of invested funds used for inventory and other Mine Shaft business expenses. Instead, as alleged, Nemeckay used his personal LLC as a pass through to pay his personal expenses, including restitution obligations to victims from his prior securities fraud scheme. The complaint alleges that in all, Nemeckay used approximately $1.7 million (63%) of investor funds for his own personal use. The complaint further alleges that, of the remaining investor funds, approximately 10% were used to make Ponzi payments to investors and 10% were used to compensate Whittington and Logan, with less than 17%, used consistently with disclosures to investors.

Investors in Mine Shaft Brewing May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in Mine Shaft Brewing, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 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 with Mine Shaft Brewing 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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