The Arizona Corporation Commission shut down two unregistered investment programs\u2014one involving gold mining and the other concerning bonds.\u00a0 In total, the Commission ordered the respondents to pay $641,016 in restitution and $60,000 in administrative penalties.<\/p>\n
Brian Langebach and Earth Explorations, LLC<\/b><\/p>\n
The Commission issued a default order against Brian Langebach of Mesa and his affiliated company, Earth Explorations, LLC, requiring them to pay $322,000 in restitution and $50,000 in administrative penalties for fraudulently offering and selling an unregistered gold mining investment program.\u00a0 The Commission found that Langebach and his affiliated company\u2014while not registered as a securities salesman or dealer\u2014offered and sold the unregistered gold mining investment program to\u00a023 investors in Arizona, Ohio and Utah.\u00a0 The Commission found that Langebach and his company misrepresented\u00a0multiple facts, including claiming that he\u00a0owned and operated a mine with one of the largest gold reserves in the U.S. and that he could extract gold from the rock material or aggregate material on a cost-effective or economically viable basis by placer mining.<\/p>\n
Marvin Wilson and True North Business Ventures, LLC<\/b><\/p>\n
The Commission ordered Marvin Wilson of Phoenix and his Scottsdale-based company, True North Business Ventures, LLC, to pay $319,016 in restitution and $10,000 in administrative penalties for fraudulently offering and selling an unregistered bond investment program.\u00a0 The Commission found that, while not registered as a securities salesman or dealer, Wilson and\u00a0True North issued unregistered bonds to\u00a0six investors.\u00a0 The Commission found that Wilson, who was the president and chief executive officer of True North, failed to disclose to investors that his company\u2019s sales were rapidly declining and the business was on the verge of closing.\u00a0 In settling this matter, Wilson neither admitted nor denied the Commission\u2019s findings, but agreed to the entry of the consent order.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Arizona Corporation Commission shut down two unregistered investment programs\u2014one involving gold mining and the other concerning bonds.\u00a0 In total, the Commission ordered the respondents to pay $641,016 in restitution and $60,000 in administrative penalties. Brian Langebach and Earth Explorations, LLC The Commission issued a default order against Brian Langebach of Mesa and his affiliated company, Earth Explorations, LLC, requiring them to pay $322,000 in restitution and $50,000 in administrative penalties for fraudulently offering and selling an unregistered gold mining investment program.\u00a0 The Commission found that Langebach and his affiliated company\u2014while not registered as a securities salesman or dealer\u2014offered and sold the unregistered gold mining investment program to\u00a023 investors in Arizona, Ohio and Utah.\u00a0 The Commission found that Langebach and his company misrepresented\u00a0multiple facts, including claiming that he\u00a0owned and operated a mine with one of the largest gold reserves in the U.S. and that he could extract gold from the rock material or aggregate material on a cost-effective or economically viable basis by placer mining. Marvin Wilson and True North Business Ventures, LLC The Commission ordered Marvin Wilson of Phoenix and his Scottsdale-based company, True North Business Ventures, LLC, to pay $319,016 in restitution and $10,000 in administrative penalties for fraudulently offering and selling an unregistered bond investment program.\u00a0 The Commission found that, while not registered as a securities salesman or dealer, Wilson and\u00a0True North issued unregistered bonds to\u00a0six investors.\u00a0 The Commission found that Wilson, who was the president and chief executive officer of True North, failed to disclose to investors that his company\u2019s sales were rapidly declining and the business was on the verge of closing.\u00a0 In settling this matter, Wilson neither admitted nor denied the Commission\u2019s findings, but agreed to the entry of […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[18,45],"tags":[],"class_list":["post-5040","post","type-post","status-publish","format-standard","hentry","category-arizona-corporation-commission","category-llcs-securities-laws"],"yoast_head":"\n