SEC, Gold Mining Co. Settle Suit Over Alleged $16M Fraud

Law360, Los Angeles (January 3, 2013, 9:11 PM EST) -- The U.S. Securities and Exchange Commission on Thursday filed and settled fraud charges against California-based Nekekim Corp. and its CEO Kenneth Carlton for allegedly tricking investors out of $16 million by misrepresenting the presence of gold in a mining venture.

Thursday’s settlement marks an end to allegations that Carlton, 64, lured hundreds of investors from 2001 to 2011 by claiming to have access to gold deposits worth at least $1.7 billion at a Nekekim mine in Nevada, when the site actually contained little to no gold....
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Case Title

Securities and Exchange Commission v. Nekekim Corporation et al


Case Number

1:13-at-00002

Court

California Eastern

Nature of Suit

850(Securities/Commodities)

Date Filed

January 3, 2013

Government Agencies

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