The Securities and Exchange Commission today filed an action seeking an order holding Robert W. Wilson in contempt for his failure to comply with an April 2019 judgment that prohibited him from offering and selling securities and ordered him to pay disgorgement and prejudgment interest.

The SEC previously charged Wilson and two companies he owned in connection with an offering fraud that raised approximately $2 million from more than 70 investors located primarily in Arizona and California. On April 25, 2019, the U.S. District Court for the Southern District of California entered final consent judgments against all three defendants that, among other things, (i) permanently enjoined Wilson from directly or indirectly participating in the issuance, purchase, offer or sale of any security except securities listed on a national securities exchange for his own personal account, and (ii) ordered Wilson and his two companies to pay, on a joint and several basis, disgorgement in the amount of $1,540,000, plus prejudgment interest of $205,376.

In the action filed today, the SEC alleges that at least as early as October 2019, Wilson, in violation of the consent judgment enjoining him from participating in the offer or sale of securities, solicited prior investors and the general public for a new alleged gold milling venture he called the "Golden Unicorn," purportedly on the same property described in the SEC's prior complaint. Wilson allegedly advertised that for investments as low as $5,000, investors could choose a 50% return in 12 months or a 100% return in 24 months. According to the SEC's contempt action, Wilson allegedly claimed that he could generate the returns by processing abandoned stockpiles into marketable gold and silver. The SEC also contends that Wilson has not paid the court-ordered disgorgement and prejudgment interest. The SEC seeks a hearing at which the court will determine whether Wilson should be held in civil contempt and impose appropriate sanctions; a sworn accounting by Wilson with respect to any securities he controls; and expedited discovery concerning the allegations in the SEC's motion.

The SEC's investigation was conducted by Michael D. Hoke and supervised by Jason J. Burt. The litigation will be led by Terry R. Miller and supervised by Gregory A. Kasper.