SEC v. Thomas San Miguel

Thomas San Miguel allegedly engaged in an unregistered and fraudulent securities offering. According to the SEC's complaint, between November 2015 and December 2021, San Miguel raised approximately $21.3 million from over 300 investors nationwide through the fraudulent and unregistered offer and sale of preferred stock in SGR Energy. According to the SEC, claims of a 12% annual dividend, escalating revenue and profits, and a $19 million accounts receivable, in addition to SGR Energy's purported acquisition of a large capacity terminal in a northern port town in Colombia, were false and misleading.

Summary generated from official Securities and Exchange Commission press release