California Department of Corporations-Order Withdrawing Desist ...
Dated: July 13, 2010. Sacramento, California. PRESTON DuFAUCHARD. CaliforniaCorporations Commissioner. By_______________________________ ...
California Department of Corporations-Order Withdrawing Desist and Refrain
In 2006 The Department of Corporations and the Securities and Exchange Commission (SEC) received a complaint from Scott Spooner alleging illegal sale of securities and other omissions of fact. At the time Scott Spooner filed the complaint he was attempting to steal mining claims from IER. IER filed against Spooner in the Superior Court, Maricopa County Arizona.
The California Department of Corporations (CA DOC) issued a Desist and Refrain Order against
IER based on Scott Spooner's complaint.
Shortly after the CA DOC issued the Desist and Refrain, IER prevailed on it's motion for Summary Judgment in International Energy and Resources, Inc. v Spooner, et al, Superior Court, Maricopa County Arizona. The Court found in favor of IER to its claims for Quiet Title, Constructive Trust, and Breach of the Duty of Good Faith and Fair Dealing, premised upon the competing mining claims held by Mr. Spooner (a former consultant of IER) that clouded title to certain of IER's mining claims. In it's decision the court held, in part, that (1) Mr. Spooner's competing mining claims were void as a matter of law, (2) Mr. Spooner breached his duty of good faith and fair dealing to his employer IER by usurping IER's opportunity to obtain the mining claims at issue, and (3) Mr. Spooner's affirmative defense relating to allegedly illegal sales of securities was dismissed.
In addition the Securities and Exchange Commission investigated International Energy and Resources, Inc. (IER), U.S. American Resources, Inc., and John Owen "against whom we do not intend to recommend any enforcement action by the commission"
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