March 19, 2010
To CMKM Diamonds Shareholders,
Because you previously contacted the Securities and Exchange Commission (SEC) Office of Inspector General (OIG) about matters related to alleged fraud involving CMKM Diamonds, we are providing you with an update concerning our work regarding this matter.
The primary functions of the OIG are to perform audits of SEC operations, programs, activities, and organizations, and to conduct investigations of alleged staff and contractor misconduct. The OIG was requested to investigate matters pertaining to CMKM Diamonds and conducted an investigation into the allegation that fell within the OIG's jurisdictional purview, namely, that the SEC's Division of Enforcement staff provided favorable treatment to a former SEC attorney by not naming that individual in a securities fraud civil action.
The OIG completed its report of investigation in this matter (Case No. OIG-528) on March 16, 2010. However, as a matter of policy, the OIG does not publicly release its reports of investigation. In order to request a copy of the OIG's report of investigation, you may make a request pursuant to the Freedom of Information Act (FOIA) to the SEC's FOIA and Privacy Act Office by following the procedures described at http://www.sec.gov/foia/howfo2.htm.
Finally, many of you have expressed concerns or made inquiries about how you may recover funds that were invested in CMKM Diamonds. Please note that the OIG does not have any authority to distribute funds to shareholders and such matters fall outside the OIG's jurisdiction. Therefore, we suggest that you contact the SEC's Office of Investor Education and Advocacy regarding these issues.
Sincerely,
Natasha Dandridge
Legal Assistant
On behalf of the Office of Inspector General
of the U.S. Securities and Exchange Commission
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