Vancouver full-patch member of Hells Angels part of a group that controlled eight public companies

The Securities and Exchange Commission (“SEC“) filed two more cases in New York over Easter, targeting actors in the Canadian capital markets. The cases are for alleged pump and dump schemes. One of the two latest cases by the SEC charges Courtney Vasseur, a full-patch member of the Hells Angels in Vancouver, with securities fraud […]

SEC charges several Canadians, including David Sidoo, with securities fraud over alleged pump and dump fraud ring that generated $145 million in proceeds of crime

The Securities and Exchange Commission (“SEC“) today filed a complaint in the Southern District of New York, charging eight defendants, half of whom are from Vancouver, with alleged securities fraud that allegedly generated US$145 million in proceeds of crime. In a parallel criminal proceeding over the same alleged scheme, the US government filed three indictments […]

China grappling with HFT activities run by foreign firms in its capital markets

China’s influential newspaper Caixin, recently investigated the renewed use of high-frequency trading (HFT) in China’s futures market, operated by foreign companies that, it reports, are incorporated under fictitious corporate purposes. According to Caixin, some HFT firms are ostensibly registered to engage in the trading of physical goods in China, when in reality they are engaged […]

Vancouver fraudster charged in alleged US$58 million boiler room stock scam; related to Frederick Sharp case

The Securities and Exchange Commission (SEC) has filed another enforcement action related to the Frederick Sharp case, this one involving the operation of a boiler room in Colombia used to solicit investments from investors for little issuers. The SEC alleges that the defendants ran a call centre boiler room in the cocaine capital of the […]

Vancouver capital markets: amended SEC complaint reveals shady underground capital markets money laundering ecosystem

The biggest money laundering case in Canadian history, only it isn’t taking place in Canada The US Securities and Exchange Commission (“SEC”) filed a proposed amended complaint on February 3, 2022, in the US District Court of Massachusetts in case of SEC v. Frederick Sharp, Avtar Dhillon, Zhiying Chen, Courtney Kelln, Michael Veldhuis, Paul Sexton, Jackson Friesen, […]

SEC files complaint against several Vancouver individuals for allegedly orchestrating US$1 billion in fraudulent sales of microcap stock

Foreign actors attacking US capital markets The Securities and Exchange Commission (“SEC“) has filed a complaint against several Vancouver individuals involved in the microcap space, calling them “foreign actors” and accusing them of attacking the US capital markets and US investors using various alleged securities fraud schemes. The SEC says that over US$1 billion in […]

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 […]