The SEC announced charges against Knoxville-based Miller Energy Resources Inc. (Miller), Miller’s former CFO, Miller’s current COO, and the audit team leader at Miller’s former independent auditor. The SEC alleges that defendants overstated the value of Miller oil and gas properties in Alaska by more than $400 million. Allegedly, this inflated valuation turned the penny-stock company into one that eventually listed on the NYSE at a high of $9 per share. SEC
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