SEC v. Cast Your Nets Ministries; CYNM Consulting, LLC; Phillip Trujillo; and Jeremy Hammonds, No. LR-26195, District of Colorado (Dec. 16, 2024) — Press Release
raw: Cast Your Nets Ministries; CYNM Consulting, LLC; Phillip Trujillo; Jeremy Hammonds
Cast Your Nets Ministries; CYNM Consulting, LLC; Phillip Trujillo; Jeremy Hammonds, No. 1:24-mc-00122 (Dec. 16, 2024)
summary
The SEC filed a subpoena enforcement action against Cast Your Nets Ministries and its executives to compel compliance in an investigation into a fraudulent and unregistered crypto asset offering.
paragraph
The SEC is investigating Cast Your Nets Ministries, CYNM Consulting, LLC, Phillip Trujillo, and Jeremy Hammonds for potential violations of federal securities laws. The investigation focuses on a fraudulent and unregistered securities offering involving crypto assets advertised on the ministry's website. While specific dollar amounts are not yet finalized, the agency is seeking documents and testimony to determine the full scope of the misconduct.
narrative
The SEC has filed a subpoena enforcement action against Cast Your Nets Ministries, its subsidiary CYNM Consulting, LLC, board member Phillip Trujillo, and executive Jeremy Hammonds. The agency is investigating whether the parties violated federal securities laws through a fraudulent and unregistered securities offering involving crypto assets. To advance the investigation, the SEC issued multiple subpoenas for documents and testimony throughout mid-to-late 2024. Despite these efforts, the defendants have failed to produce all required documents or appear for testimony. The SEC is now seeking a court order from the U.S. District Court for the District of Colorado to compel compliance. Although the investigation is ongoing, the SEC has not yet concluded that specific violations have occurred.
Classified crypto-securities(confidence 90%). EDGAR detection: forms 1-A/S-1/8-K· recall 43% / precision 2%. detection rule →
Parties
Securities and Exchange CommissionCast Your Nets MinistriesCYNM Consulting, LLCPhillip TrujilloJeremy Hammonds
Keywords
cast netsnets ministriescynm consultingcastnetsministriesministries cynmtrujilloseccynmconsultinghammondsconsulting trujillotrujillo hammondssecurities
Exhibits & Attached Documents (1)
Extracted insights
Entities 3
- person cast your nets ministries
- person cynm consulting
- agency Securities and Exchange Commission
Triples 12
- Securities And Exchange Commission filed a subpoena enforcement action Cast Your Nets Ministries; subsidiary Cynm Consulting, LLC; Cast Your Nets Ministries Board Member Phillip Trujillo; and Cast Your Nets Ministries executive Jeremy Hammonds
- Securities And Exchange Commission is investigating whether Cast Your Nets Ministries, Cynm Consulting, Trujillo, and Hammonds violated the federal securities laws by conducting a fraudulent and unregistered securities offering
- Securities And Exchange Commission is seeking documents from Cast Your Nets Ministries, Cynm Consulting, and Trujillo related to the structure and business of those entities; the products they offer; and the crypto asset advertised on the Cast Your Nets Ministries’ website
- Securities And Exchange Commission is seeking testimony from Trujillo and Hammonds regarding the structure and nature of the offered products
- Securities And Exchange Commission issued subpoenas for documents to Cynm Consulting on May 20, 2024 and to Cast Your Nets Ministries on August 6, 2024
- Securities And Exchange Commission staff issued a subpoena for documents and testimony to Trujillo on September 30, 2024
- Securities And Exchange Commission staff issued a subpoena for testimony to Hammonds on September 30, 2024
- Cast Your Nets Ministries have not produced all responsive documents
- Cynm Consulting have not produced all responsive documents
- Trujillo have not produced all responsive documents
- Trujillo have not appeared for testimony
- Hammonds have not appeared for testimony
PDF (from attached: complaint)
Text layers
Extracted body text (2,196c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26195 / December 16, 2024 Securities and Exchange Commission v. Cast Your Nets Ministries et al., No. 1:24-mc-00122-DDD (D. Colo. filed Dec. 12, 2024) SEC Seeks Court Order Requiring Colorado-Based Company to Comply with Subpoenas The Securities and Exchange Commission announced that it filed a subpoena enforcement action against Cast Your Nets Ministries; subsidiary CYNM Consulting, LLC; Cast Your Nets Ministries Board Member Phillip Trujillo; and Cast Your Nets Ministries executive Jeremy Hammonds. The filed action seeks an order directing Cast Your Nets Ministries, CYNM Consulting, Trujillo, and Hammonds to comply with the subpoenas. According to the SEC’s application and supporting papers filed in the U.S. District Court for the District of Colorado, the SEC is investigating whether Cast Your Nets Ministries, CYNM Consulting, Trujillo, and Hammonds violated the federal securities laws by, among other things, conducting a fraudulent and unregistered securities offering. The SEC’s application states that it is seeking documents from Cast Your Nets Ministries, CYNM Consulting, and Trujillo related to the structure and business of those entities; the products they offer; and the crypto asset advertised on the Cast Your Nets Ministries’ website.The SEC’s application further states that it is seeking testimony from Trujillo and Hammonds regarding, among other things, the structure and nature of the offered products. On May 20, 2024 and August 6, 2024, the SEC issued subpoenas for documents to CYNM Consulting and Cast Your Nets Ministries, respectively. On September 30, 2024, the SEC staff issued a subpoena for documents and testimony to Trujillo and a subpoena for testimony to Hammonds. According to the SEC’s application, despite repeated attempts to secure compliance with the subpoenas, Cast Your Nets Ministries, CYNM Consulting, and Trujillo have not produced all responsive documents, and Trujillo and Hammonds have not appeared for testimony. The SEC is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.
OCR text (2,196c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26195 / December 16, 2024 Securities and Exchange Commission v. Cast Your Nets Ministries et al., No. 1:24-mc-00122-DDD (D. Colo. filed Dec. 12, 2024) SEC Seeks Court Order Requiring Colorado-Based Company to Comply with Subpoenas The Securities and Exchange Commission announced that it filed a subpoena enforcement action against Cast Your Nets Ministries; subsidiary CYNM Consulting, LLC; Cast Your Nets Ministries Board Member Phillip Trujillo; and Cast Your Nets Ministries executive Jeremy Hammonds. The filed action seeks an order directing Cast Your Nets Ministries, CYNM Consulting, Trujillo, and Hammonds to comply with the subpoenas. According to the SEC’s application and supporting papers filed in the U.S. District Court for the District of Colorado, the SEC is investigating whether Cast Your Nets Ministries, CYNM Consulting, Trujillo, and Hammonds violated the federal securities laws by, among other things, conducting a fraudulent and unregistered securities offering. The SEC’s application states that it is seeking documents from Cast Your Nets Ministries, CYNM Consulting, and Trujillo related to the structure and business of those entities; the products they offer; and the crypto asset advertised on the Cast Your Nets Ministries’ website.The SEC’s application further states that it is seeking testimony from Trujillo and Hammonds regarding, among other things, the structure and nature of the offered products. On May 20, 2024 and August 6, 2024, the SEC issued subpoenas for documents to CYNM Consulting and Cast Your Nets Ministries, respectively. On September 30, 2024, the SEC staff issued a subpoena for documents and testimony to Trujillo and a subpoena for testimony to Hammonds. According to the SEC’s application, despite repeated attempts to secure compliance with the subpoenas, Cast Your Nets Ministries, CYNM Consulting, and Trujillo have not produced all responsive documents, and Trujillo and Hammonds have not appeared for testimony. The SEC is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.