UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report: March 24, 2017
(Date of earliest event reported)

 

SCIO DIAMOND TECHNOLOGY CORPORATION

(Exact name of registrant as specified in its charter)

 

Commission File Number: 333-166786

 

 

Nevada	45-3849662
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

 

411 University Ridge Suite D

Greenville, SC  29601

(Address of principal executive offices, including zip code)

 

(864) 751-4880
(Registrant’s telephone number, including area code)

 

Not Applicable
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 7.01

Regulation FD Disclosure.

 

The following information (including Exhibit 99.1 referenced below) is being “furnished” in accordance with General Instruction B.2 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

 

On March 23, 2017, the Company issued a press release detailing recent actions taken against the former Scio Diamond Board of Director’s Chairman Edward S. Adams by the Department of Justice through its District of Minnesota U.S. Attorney’s Office. Mr. Adams was charged in a federal indictment with “orchestrating an elaborate fraud scheme to embezzle millions of dollars of investor’s funds.” The indictment alleges the activity happened between 2006 and 2013.  Scio Diamond’s current Board of Directors and management team have been cooperating with the Department of Justice in its investigation. 

 

A copy of the Press Release is furnished as Exhibits 99.1 to this Current Report on Form 8-K and incorporated by reference herein.

 

Item 9.01

Financial Statements and Exhibits.

 

(d)

Exhibits.

 

99.1     Press Release dated March 23, 2017

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	SCIO DIAMOND TECHNOLOGY CORPORATION
	By:	/s/ Gerald A. McGuire
		Gerald A. McGuire
		President and Chief Executive Officer

 

Date: March 24, 2017