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 Information

Case Title

Securities and Exchange Commission v. Nekekim Corporation et al

Case Number



California Eastern

Nature of Suit


Date Filed

January 3, 2013

Government Agencies

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