SEC Obtains Final Judgments Against Mining Company and Executives

SEC Litigation Releases

Filed February 23rd, 2026

Detected February 26th, 2026

Summary

The SEC announced final judgments by consent against Western Sierra Resource Corporation and its executives Roger Johnson and Dennis Atkins. The company and executives were charged with issuing false and misleading statements regarding the acquisition of gold mining claims. Johnson and Atkins each agreed to pay a $150,000 civil penalty, a three-year officer-and-director bar, and a five-year penny-stock bar.

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The Securities and Exchange Commission (SEC) has secured final judgments by consent against Western Sierra Resource Corporation, CEO Roger Johnson, and CFO Dennis Atkins. The enforcement action, filed in the U.S. District Court for the District of Colorado (No. 1:24-cv-01705), alleged that the defendants made materially false and misleading statements concerning the company's purported acquisition of gold mining claims worth billions of dollars. The final judgments enjoin the defendants from violating antifraud provisions of the Securities Exchange Act of 1934.

Without admitting or denying the allegations, Western Sierra, Johnson, and Atkins have consented to the judgments. Johnson and Atkins will each pay a $150,000 civil penalty, be subject to a three-year officer-and-director bar, and a five-year penny-stock bar. This action serves as a reminder to public companies and their executives about the severe consequences of misrepresenting material information, particularly concerning asset acquisitions and financial reporting, and the potential for significant penalties and bars from serving in corporate roles.

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Western Sierra Resource Corporation, Roger Johnson, and Dennis Atkins

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26491 / February 25, 2026

Securities and Exchange Commission v. Western Sierra Resource Corporation, Roger Johnson, and Dennis Atkins, No. 1:24-cv-01705 (D. Colo. filed June 18, 2024)

SEC Obtains Final Judgments by Consent Against Colorado Mining Company and Executives in Fraud Case

On February 23, 2026, the Securities and Exchange Commission obtained final judgments against Colorado-based penny-stock issuer Western Sierra Resource Corporation (“Western Sierra”), its Chief Executive Officer Roger Johnson, and its Chief Financial Officer Dennis Atkins, whom the SEC previously charged in a litigated action concerning the issuance of false and misleading statements concerning Western Sierra’s alleged purchase of gold mining claims worth billions of dollars.

According to the SEC’s complaint, filed on June 18, 2024 in the U.S. District Court for the District of Colorado, from June 2021 through at least October 2023, Western Sierra, Johnson, and Atkins made materially false and misleading statements concerning the acquisition of certain gold mining rights in multiple press releases; in quarterly and annual submissions filed with the trading platform Over-the-Counter Markets; and on Western Sierra’s website. As alleged in the complaint, Western Sierra, through Johnson and Atkins, claimed it had paid $10 million for an interest in a company that purportedly owned more than 640 acres of Bureau of Land Management mining claims within the State of Nevada. However, the complaint alleges, this company did not own any mining claims, and Western Sierra did not pay $10 million for these purported mining claims.

Without admitting or denying the allegations of the complaint, Western Sierra, Johnson, and Atkins each consented to the entry of a final judgment that enjoins them from violations of the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) thereunder. Johnson and Atkins each further consented to a payment of a civil penalty in the amount of $150,000 each, a three-year officer-and-director bar, and a five-year penny-stock bar.

The SEC’s investigation was conducted by Abigail Edwards and supervised by Kimberly Frederick, and Nicholas Heinke, all of the Denver Regional Office. William Connolly of the Enforcement Division’s Office of Investigative and Market Analytics assisted with the investigation. The litigation was led by Jodanna Haskins and Rachel Yeates and supervised by Gregory Kasper and Mr. Heinke.