SEC v. Western Sierra Resource Corporation

Western Sierra Resource Corporation, Roger Johnson, and Dennis Atkins allegedly issued false and misleading statements concerning Western Sierra's alleged purchase of gold mining claims worth billions of dollars. According to the complaint, Western Sierra, Johnson, and Atkins, claimed it had paid $10 million for an interest in a company that purportedly owned more than 640 acres of Bureau of Land Management mining claims within the State of Nevada. The complaint alleges, Western Sierra did not pay $10 million for these purported mining claims and indeed did not own any mining claims at all.

Summary generated from official Securities and Exchange Commission press release