By Roger Lanse

A Securities and Exchange Commission complaint, unsealed on Dec. 6, 2018, against Silver City businessman Thomas H. Laws, alleges that during 2016-2018, Laws misappropriated investor funds transferred to himself from Santa Fe Gold Corporation, of which he was CEO. According to an SEC litigation release dated Dec. 14, 2018, Laws misappropriated approximately $1.1 million and attempted to hide his theft from the company and its independent auditor by fabricating documents; including vendor invoices, agreements, bank records, and communications.

The release also stated that the Grant County District Court granted the SEC’s request for an asset freeze, expedited discovery, prohibiting the alteration or destruction of documents, and an accounting of investor funds and other assets.

The SEC seeks disgorgement of the alleged ill-gotten gains, prejudgment interest, civil monetary penalties, an officer and director bar, and a penny stock bar, according to the release.