Atlas Mining's Former Boss Settles SEC Allegations
BOISE, Idaho (AP) ¿ A northern Idaho mining company's former chief executive must pay $50,000 to settle allegations he financed his company's struggling operations by illegally distributing millions of dollars worth of stock to investors.
William Jacobson, former CEO of Atlas Mining Co., is also barred from serving as an officer or director of any issuer for five years, the Securities and Exchange Commission said in a statement Tuesday.
Atlas Mining is now known as Applied Minerals Inc.
The SEC alleged Jacobson from 2002 to 2005 tried to keep Atlas afloat by orchestrating illegal stock schemes, then fabricated documents and made false statements in public filings to cover his tracks.The company, based in Osburn, Idaho, in July settled a class action lawsuit when it agreed to pay $1.25 million to investors who claimed the company artificially inflated stock prices through false financial statements.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV