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 […]
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 […]
Once upon a time there was an issuer in British Columbia that went through so many pivots, one’s head spins reading their Sedar filings. Its name is StillCanna. We went through its Sedar filings for the sole purpose of documenting how some issuers pivot. The issuer started out as Symbio Capital Corp., as a CPC […]
Cease trade order This week, the British Columbia Securities Commission (the “BCSC“) issued a cease trade order (“CTO“) in respect of the securities of Blok Technologies Inc., (“Blok“) a British Columbia issuer. The CTO was issued for a failure of the issuer to make certain required periodic financial filings on Sedar. Bridgemark case Blok is […]
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 […]
Mountain Valley MD A Vancouver issuer named Mountain Valley MD Holdings Inc. (“Mountain MD“), was cease traded by the Ontario Securities Commission today for a failure to file its required disclosure documents and based on the fact that a director, officer and insider had or may have, material information in respect of Mountain MD that […]
The US Commodity Futures Trading Commission (the “CFTC“) has filed a complaint in the US District Court for the Western District of Texas, against five Canadians and one American, alleging that they operated a binary options financial scheme illegally, which was in effect a fraud. The five, all from Ontario, are David Cartu, Jonathan Cartu, […]
A very long time ago, July 2007 to be exact, a Shaughnessy mansion located at 1178 Laurier 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 […]
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 […]
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 […]