Alberta Securities Commission decision to permanently ban two “scoundrels” who were the hidden operating minds of an issuer, shows the anatomy of modern pump and dump schemes

Two months ago, the Alberta Securities Commission (“ASC“) issued an order permanently banning two individuals it called “scoundrels” from the capital markets permanently, together with an issuer that operated a pump and dump scheme. The individuals are Cem Can (“Can“), a Turkish foreign national, and Charles Michael Miller. The issuer is Bluforest Inc. (“Bluforest” or […]

SEC files complaint against BitConnect promoters in the US

The Securities and Exchange Commission (“SEC“) filed a civil complaint against 5 American promoters of the Blockchain protocol known as BitConnect this week. Investors from around the world lost over US$2 billion with BitConnect. The SEC alleges that the defendants conducted an unregistered offering and sale of securities in connection with its native coin and […]

SEC files enforcement action over alleged disclosure misreps against British Columbia issuer and its Vancouver major shareholder

Complaint filed by the SEC The Securities and Exchange Commission (“SEC“) filed a complaint in the Southern District of New York this week against RenovaCare, Inc. (the “Company“) and Harmel Rayat (“Rayat“) alleging that material misrepresentations were made in the disclosure material filed by the Company, and that the Company used a secret paid promoter […]

Using complex network analytics to improve litigation and financial crime outcomes

With access to justice becoming a growing problem in Canada, as more people and companies become unable to afford to litigate, or be litigated against, lawyers and governments are turning to technology to find ways to bring down the costs of litigation and of prosecution. Covid-19 has forced us to accelerate the use of technology […]

SEC charges 3 Canadians with various securities violations, including pump and dump schemes, involving over 20 microcap issuers

SEC complaint The US Securities and Exchange Commission (the “SEC“) filed charges against three Canadians, four Americans and nine private companies in the US District Court for the Southern District of California, for numerous violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, for alleged manipulative market behaviour, including pump […]

SEC asks California Court to impose US$1M fine against pump and dumper tied to old Vancouver Hell’s Angels house shoot-out case

A very long time ago, July 2007 to be exact, a Shaughnessy mansion located at 1178 Lau​rier Avenue in Vancouver, Canada, was shot up. No one was hurt. People said that the shooter was a member of the Hell’s Angels, angry over losses he incurred from a pump and dump stock scheme that dumped too […]