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U.S. Securities and Exchange Commission


Litigation Release No. 20216 / July 27, 2007

SEC v. International Energy and Resources, Inc., Case No. CV 06-07694 AHM (JTLx) (C.D. Cal.)

Court Finds International Energy and Resources, Inc. in Contempt of Subpoena Enforcement Order and Assesses Daily Fine

The Securities and Exchange Commission announced that, on July 6, 2007, the Honorable A. Howard Matz, United States District Judge for the Central District of California, entered an order finding International Energy and Resources, Inc. (IER) in contempt of the court's previous subpoena enforcement order to produce documents. The court also ordered IER to pay a daily fine in the amount of $1,000 for each day, after July 13, 2007, that it fails to produce all of the documents as required by the subpoena enforcement order. IER is a Texas corporation with offices in Dallas, Texas and Scottsdale, Arizona.

The Commission's application for contempt and supporting papers allege that in December 2006, the court entered an order compelling IER to produce all documents, in response to two Commission subpoenas, no later than January 17, 2007. The Commission further alleged that the subpoenas were issued pursuant to a formal order of private investigation entitled in the Matter of International Energy and Resources, Inc., which concerns possible violations of the registration and antifraud provisions of the federal securities laws in connection with the offer, purchase, or sale of securities related to purported gold mining interests in Arizona.

According to the Commission's application and supporting documents, IER failed to produce any documents after the court issued the December subpoena enforcement order. The district court found that, as set forth in the Commission's application, IER had no valid justification for its failure to comply with the order.



Modified: 07/27/2007