News and Press Releases

Columbia, Illinois, Man Pleads Guilty to Violating Federal Securities Law

March 23, 2012

Jeremiah D. Jacob, 32, of Columbia, IL, plead guilty in federal court to violating federal securities law by failing to register a security before selling it, the United States Attorney for the Southern District of Illinois, Stephen R. Wigginton, announced today. Jacob faces up to 5 years in prison, a $10,000 fine, and 3 years’ supervised release. Sentencing is scheduled for June 28, 2012.

Evidence revealed at the guilty plea showed that Jeremiah D. Jacob solicited an investor to invest in the purchase a gold mine in the Yukon. Jacob represented that the investment would receive a 15% return for each year, with no losses on the initial capital, and that the funds would be invested “into tangible business interests including revenue producing mining projects.” In reliance on the representations and promises of Jacob, the victim invested $200,000 with Jacob, d/b/a Liberty Finance. In selling and offering for sale the security, Jeremiah D. Jacob made use of the United States mail service and email communications in interstate commerce. Jeremiah D. Jacob, d/b/a Tsalach Energy and Mining Group, Inc., was, in fact, dissolved.

The investigation was conducted by the Illinois Securities Department, the U.S. Postal Inspection Service and the Internal Revenue Service/Criminal Investigations. The prosecution is being handled by Assistant United States Attorney Norman Smith.

People who believe they have been a victim of securities fraud should contact the Illinois Securities Department at 1-800-628-7937. If you suspect or know of an individual or company that is not complying with the tax laws, you may report this activity by contacting the local Internal Revenue Service/Criminal Investigation Office at (618) 622-2160 or by mailing information to: Internal Revenue Service, Fresno, CA 93888.











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