May 07, 2015
Charles H. Merchant, Southern USA Resources, Inc.
SANCTION AMOUNT: $1,025,000
Defendants: Southern USA Resources, Inc.
Charles H. Merchant
Materially false reports filed with the Commission misrepresenting the value of gold mining company's land. Also, the individual defendant (the company's CEO) was found to have filed certifications containing false statements about the company's internal controls and his understanding of those controls. The company was also delinquent with respect to filings and failed to disclose material changes.
- Key Docs
- Official SEC press release