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(KSL News) Federal authorities have accused the CEO of a St. George-based company of defrauding investors.
They say James Plant sold unregistered stock and falsely claimed CyberKey Solutions had a $25 million purchase order from the Department of Homeland Security. The company had marketed its memory drives as the only ones capable of encrypting information and keeping it secure.
Yesterday, the Securities and Exchange Commission filed civil fraud charges against Plant in a federal court in Philadelphia.
In addition, FBI agents arrested Plant on charges of securities fraud March 13 in St. George.
