Tweet 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 […]
Tweet 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 […]
Tweet 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 […]
Tweet 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 […]
Tweet 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 […]
Tweet 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 […]
Tweet 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 […]
Tweet Jack It was November 7, 1885. John Worth Mitchell -Jack to his friends – was 8-years-old and living in Port Elgin, Ontario, when he heard from his parents that the unsinkable S.S. Algoma had shipwrecked and sank crossing Lake Superior. At least 48 passengers and crew had been washed away at sea and were […]
Tweet 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, […]
Tweet 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 a claim, […]