SEC v. Corey J. Sandberg; and Affinity Gold Corporation, No. LR-24010, District of Minnesota (Dec. 13, 2017) — Press Release
raw: Corey J. Sandberg and Affinity Gold Corporation
Corey J. Sandberg and Affinity Gold Corporation, No. LR-24010 (Dec. 13, 2017)
Corey J. Sandberg and Affinity Gold Corporation failed to comply with SEC subpoenas in an investigation, prompting the SEC to seek a court order for enforcement.
The SEC issued subpoenas to Affinity Gold Corp. and its CEO, Corey J. Sandberg, seeking communications with potential investors and documents relevant to the company's mining projects in Peru and Colombia. Sandberg only produced an incomplete set of 20 emails in PDF format, despite multiple extensions and detailed instructions. The SEC is seeking a court order to compel full production, but no charges or dollar amounts have been specified.
The U.S. Securities and Exchange Commission (SEC) is seeking court enforcement of administrative subpoenas against Affinity Gold Corporation and its CEO, Corey J. Sandberg, for failing to fully comply with document requests in an ongoing investigation. The SEC demanded communications with investors and records related to mining projects in Peru and Colombia, but Sandberg only produced an incomplete set of 20 emails in PDF format, despite multiple extensions and detailed instructions to properly export metadata. Sandberg admitted under sworn testimony that he had not produced all responsive documents, and subsequent reminders from SEC staff yielded no further compliance. The SEC is not alleging securities law violations at this stage but is seeking a court order to compel full subpoena compliance as its investigation continues. No monetary penalties or formal charges have been filed to date. The SEC's investigation in this matter is ongoing, and the agency has not concluded that any individual or entity has violated the federal securities laws.
Exhibits & Attached Documents (1)
Extracted insights
- company affinity gold corporation
- company a minnesota-based mining company
- company ceo of affinity gold corporation
- person corey j. sandberg
- agency Securities and Exchange Commission
- SEC seeks court enforcement of agency subpoenas
- SEC is conducting ongoing investigation of a Minnesota-based mining company and its CEO
- SEC is seeking court enforcement of agency subpoenas in an ongoing investigation
- Securities and Exchange Commission seeks court enforcement of agency subpoenas
- Securities and Exchange Commission filed No. 17-mc-00062
- Corey J. Sandberg is CEO of Affinity Gold Corporation
- Securities and Exchange Commission investigates Affinity Gold Corporation
- Securities and Exchange Commission issued Litigation Release No. 24010
- Litigation Release No. 24010 was issued on December 13, 2017
- Securities and Exchange Commission sought enforcement of administrative subpoenas
- Affinity Gold Corporation is a Minnesota-based mining company
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 24010 / December 13, 2017 Securities and Exchange Commission v. Corey J. Sandberg and Affinity Gold Corporation, No. 17-mc-00062 (D. Minn. filed Dec. 11, 2017) SEC Seeks Court Enforcement of Agency Subpoenas in Investigation of Mining Company The Securities and Exchange Commission is seeking court enforcement of the agency's administrative subpoenas in an ongoing investigation of a Minnesota-based mining company and its CEO. According to the SEC's application and supporting papers, filed on December 11, 2017 in federal court in Minnesota, the SEC issued multiple subpoenas to Affinity Gold Corp. and its CEO, Corey J. Sandberg, seeking, among other things, communications with potential investors, and documents relevant to the company's mining projects in Peru and Colombia. Although, as the application states, Sandberg made an initial incomplete production of twenty business-related e-mails in PDF form, despite numerous extensions, neither Sandberg nor Affinity Gold produced all documents responsive to the subpoenas, which Sandberg admitted in sworn testimony before agency staff. The application further states that, after Sandberg's sworn testimony, agency staff reminded Sandberg to produce the requested documents and provided step-by-step instructions on how to properly export and produce relevant email files and metadata. Despite these and other repeated communications, the application states that Sandberg failed to provide any additional documents beyond the initial production. The SEC is seeking a court order requiring Sandberg and Affinity Gold to comply with the agency's subpoenas. The SEC's investigation in this matter is continuing and, to date, the agency has not concluded that any individual or entity has violated the federal securities laws. Application
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 24010 / December 13, 2017 Securities and Exchange Commission v. Corey J. Sandberg and Affinity Gold Corporation, No. 17-mc-00062 (D. Minn. filed Dec. 11, 2017) SEC Seeks Court Enforcement of Agency Subpoenas in Investigation of Mining Company The Securities and Exchange Commission is seeking court enforcement of the agency's administrative subpoenas in an ongoing investigation of a Minnesota-based mining company and its CEO. According to the SEC's application and supporting papers, filed on December 11, 2017 in federal court in Minnesota, the SEC issued multiple subpoenas to Affinity Gold Corp. and its CEO, Corey J. Sandberg, seeking, among other things, communications with potential investors, and documents relevant to the company's mining projects in Peru and Colombia. Although, as the application states, Sandberg made an initial incomplete production of twenty business-related e-mails in PDF form, despite numerous extensions, neither Sandberg nor Affinity Gold produced all documents responsive to the subpoenas, which Sandberg admitted in sworn testimony before agency staff. The application further states that, after Sandberg's sworn testimony, agency staff reminded Sandberg to produce the requested documents and provided step-by-step instructions on how to properly export and produce relevant email files and metadata. Despite these and other repeated communications, the application states that Sandberg failed to provide any additional documents beyond the initial production. The SEC is seeking a court order requiring Sandberg and Affinity Gold to comply with the agency's subpoenas. The SEC's investigation in this matter is continuing and, to date, the agency has not concluded that any individual or entity has violated the federal securities laws. Application