Goodman & Nekvasil P.A. May Recover Investor Losses | Santa Fe Gold, SEC Charges Former CEO
Santa Fe Gold Former CEO Charged with Misappropriating Investor Funds
Santa Fe Gold, a small mining company based in Albuquerque, New Mexico, is a public company quoted on OTC Link operated by OTC Markets Group. According to the SEC, after emerging from bankruptcy in June 2016 without assets, Santa Fe Gold raised approximately $6.8 million from the sale of unregistered securities.
According to the SEC, from at least August 2016 through February 2018, Santa Fe Gold transferred directly to its former CEO and THL Financial Services Corporation, approximately $1.1 million of investors’ funds for various corporate purposes, including the purchase of a silver mine, the acquisition of mining claims, the purchase of mining equipment, and for third party services to the company. According to the SEC, rather than use the funds for corporate purposes, Santa Fe Gold’s former CEO misappropriated these funds and attempted to hide his theft by fabricating documents, including by forging vendor invoices, agreements, bank records, communications, and signatures.
Due to Santa Fe Gold’s former CEO’s misappropriation of funds, Santa Fe Gold’s forms 10-Q for the periods ended September 30, 2016, December 31, 2016, and March 31, 2017, as well as the company’s Form 10-K for the year ended June 30, 2017, were inaccurate and can no longer be relied upon, according to the SEC.
Investors in Santa Fe Gold May Recover Investment Losses
If you invested in Santa Fe Gold, 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 with Santa Fe Gold 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.