SEC v. Thomas San Miguel

Thomas San Miguel allegedly raised approximately 21300000 from over 300 investors nationwide through the fraudulent and unregistered offer and sale of preferred stock in SGR Energy. According to the SEC's complaint, San Miguel lured investors with false and misleading claims of a 12% annual dividend, escalating revenue and profits, and a 19000000 account receivable on SGR Energy’s balance sheet.

Summary generated from official Securities and Exchange Commission press release