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 […]

Canadian pump & dumper whose tip exposed the US college admissions test scandal, given longer sentence by judge than recommended

Morrie Tobin, the Canadian financier who tipped authorities off about the college admissions scandal, was sentenced today to a year and a day in prison after pleading guilty to securities fraud for pumping and dumping stocks. Despite his crucial tip and his cooperation in the investigation that led to the college admissions prosecutions, the judge […]

Two Canadian money launderers living in paradise tried to “stay good” but couldn’t because they were addicted to cash

The US Attorney in Florida today announced that a Canadian, Brooks Thomas Nesbitt, was sentenced to 10 years in jail after pleading guilty to wire fraud in connection with a money laundering securities fraud scheme. Nesbitt, originally from Thornhill, Ontario, ran several boiler room operations with another Canadian, Mary Kathryn Marr, which took in over […]

SEC announces US$45M settlement with large British Columbia pubco, CPA, CEO and CFO for securities violations

The Securities and Exchange Commission (“SEC“) today announced that it reached a settlement with a British Columbia company and some former key executives, in respect of charges of improper revenue recognition and the issuance of misleading public securities law disclosures in its securities filings as well as earnings presentations. The issuer, Valeant Pharmaceuticals International, Inc., […]

Alberta Securities Commission issues temporary halt trade order against Vancouver’s Softlab9; and warns against Bitcoin binary financial asset recovery scam

(1) Claim Central The Alberta Securities Commission (“ASC“) issued two notices today. The first was a warning about a company called “Claim Central” which purports to be an asset recovery agency claiming to be capable of recovering funds from the numerous binary financial scams that have targeted Canadians in the past. In order to activate […]