According to the Securities and Exchange Commission, the amount of money to be recovered in the case of Securities and Exchange Commission v. CMKM Diamonds, Inc. is unknown as of January 2016. The US Department of Justice, which is prosecuting a separate but related criminal case, issued a statement denying reports of a settlement fund, stating it has no evidence of one.
According to the SEC, the corporation and 13 individual defendants were charged with violating federal securities laws in 2008 for illegally issuing and selling stock in CMKM Diamonds, Inc., a fictitious mining company based in Las Vegas, Nevada. The court issued judgments against multiple defendants, requiring them to refund millions of dollars. The execution of the judgments, however, is still pending. According to the SEC, if enough assets are seized to reimburse investors, the agency can submit a court motion to suggest a settlement plan.
According to the US Department of Justice, the US Attorney’s Office in Las Vegas, Nevada, filed additional action in 2009, charging six of the defendants with securities fraud in connection with the CMKM Diamonds case. As of September 2015, the litigation was still underway.
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