The U.S. Securities and Exchange Commission announced Monday that a court has ordered disgorgement and a civil penalty against a Wyoming firm that raised over US$15 million from investors in Canada and the U.S. through a series of fraudulent offerings.

The SEC says that the U.S. District Court for the Southern District of Indiana entered a final judgment imposing disgorgement and a civil penalty against Berkshire Resources, LLC, and a series of other companies, holding them liable, and ordering them to pay US$15,400,000 in disgorgement and US$205,846.57 in prejudgment interest. Additionally, Berkshire was ordered to pay a civil penalty of US$650,000.

The commission’s complaint alleged, among other things, that from April 2006 through December 2007 Berkshire, and other companies, raised approximately US$15.5 million from approximately 265 investors in the United States and Canada through a series of unregistered, fraudulent offerings of securities in the form of “units of participation”.

On September 3, the court entered separate final judgments against the other defendants and relief defendants in this case enjoining them from further violations of the securities laws and ordering them to pay full disgorgement, prejudgment interest, and civil penalties.

IE