SEC v. Western Sierra Resource Corporation

Western Sierra Resource Corporation, Roger Johnson, and Dennis Atkins allegedly made materially false and misleading statements concerning the acquisition of certain gold mining rights in multiple press releases; in quarterly and annual submissions filed with the trading platform Over-the-Counter Markets; and on Western Sierra’s website. According to the SEC's complaint, Western Sierra, through 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. However, the complaint alleges, this company did not own any mining claims, and Western Sierra did not pay $10 million for these purported mining claims.

Summary generated from official Securities and Exchange Commission press release