Virtual Currency
Gold Hawgs Development CorpAbout
Important information
- Pending Government Action:Government Action: BBB reports on known government actions involving business’ marketplace conduct:U.S. SEC v Paul A. Garcia
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government's allegations, which have not yet been proven.
On January 18, 2022, the U.S. Securities and Exchange Commission filed complaint against Paul A. Garcia, 50% owner and Chief Financial Officer of Gold Hawgs Development Corp.
The SEC complaint alleges that Garcia raised $400,000 from investors in 2019 for the creation and promotion of a new cryptocurrency called the “Gold Hawg” token. The complaint further alleges that Garcia misappropriated approximately $123,000 of the money raised by transferring investors’ funds from Gold Hawgs’ bank account to an account in the name of Office Guru Franchise Group, Inc., which he also controlled. The SEC also accuses Garcia of using the funds for various expenses unrelated to Gold Hawgs’ business.
The SEC is seeking a permanent injunction, disgorgement of all ill-gotten gains plus prejudgment interest and a civil penalty.
For more information, contact the U.S. Securities and Exchange Commission at 303-844-1000.
Business Details
- BBB File Opened:
- 2/1/2022
- Business Started:
- 8/2/2019
- Type of Entity:
- Corporation
- Alternate Names:
- Gold Hawgs
- Business Management:
- Mr. Paul A Garcia, Co-Owner
Additional Contact Information
- Principal Contacts
- Mr. Paul A Garcia, Co-Owner
- Customer Contacts
- Mr. Paul A Garcia, Co-Owner
Additional Information
- Business Categories
- Virtual Currency
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