December 16, 2014
Posted January 26, 2016
The SEC charged Michael Crow and Alexandre Clug and their company Aurum Mining LLC with a gold mining investment scheme under which they promised investors a stake in so-called “quick-to-production” gold mines that Aurum Mining purported to own and operate in Brazil and Peru. According to the SEC, despite highly optimistic statements that the gold mines would yield millions of dollars, the investors never received any money back from their investments, while Crow and Clug used a substantial amount of investor funds to cover their monthly salaries, rental of upscale apartments in Lima, and other living or travel expenses. SEC
Tagged in: Misrepresentations, Securities Fraud,