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 […]

In ISIS Beatles case, UK Appeal Court rules that complying with some US MLATs to hand over evidence in an investigation is unlawful; relevant for Canada as well

Cruel and unusual punishment Everything I know about the Eighth Amendment and death penalty jurisprudence, I learned from former US Supreme Court Justice Anthony Kennedy, from whom I had the privilege of studying law during a course on international human rights and constitutional law. US Supreme Court Justice Kennedy, as he was then, was not […]

Proceeds of crime from US$550 million Ponzi scheme run by “obscenely greedy con artists”, including diamonds, gold coins, sports memorabilia, art, comic books, go on sale at online auction next week as Covid-19 solution

The proceeds of crime from a massive US$550 million Ponzi scheme perpetrated by two convicted fraudsters in the US – Kevin Merrill and Jay Ledford – are being auctioned at an online auction house starting next week, in part because of Covid-19. Diamonds, sports memorabilia, art, gold coins, comic book from securities fraud being sold […]

Rewind to 2019’s most unusual financial crime case – the Ponzi schemer who paid US$720,000 for online spiritual rituals and filled freezers with beef tongues to cast voodoo spells on SEC lawyers to stop an investigation

This case wins first prize as the most unusual financial crime case of 2019. It’s about Dawn J. Bennett, a former stock broker from Maryland, who first worked with Western International Securities. In addition to selling securities, Bennett was a financial expert on a radio show where she dispensed investment advice and believed that she […]

BCSC and SEC jointly temporarily cease trade Vancouver company over Covid-19 PPE promotion

The British Columbia Securities Commission (“BCSC“) and Securities and Exchange Commission (“SEC“) have jointly issued temporary cease trade orders in respect of a Vancouver company called Micron Waste Technologies Inc. (“Micron“). The BCSC cease trade order is here; the SEC cease trade order is here. It has been a number of years since a joint […]