DD Support Board and Research Team

[1manband]

The BCSC is very good at leveling fines, the majority of which they never collect, and making noise about wrong doing, but you are right. Nothing much really comes of them. But, there is very little they can do to the non-Canadians. That will have to be up to the US authorities.

Ontario has been taking a slightly harder line in these types of cases. They are now instituting quasi-criminal stock fraud cases instead of their prior civil cases. The quasi-criminal charges can result in jail time.

Here is another example of the BCSC making a lot of noise, but doing relatively nothing. I would be surprised if the BCSC collects a penny of the almost $44 million she owes.

BCSC panel fines former notary public $33 million and orders permanent market ban for fraud

http://www.bcsc.bc.ca/News/News_Releases/2015/06_BCSC_panel_fines_former_notary_public_$33_million__and_orders_permanent_market_ban_for_fraud/

In July 2014, the panel found that between approximately 2003 and January 2012, Samji, a former notary public, perpetrated a fraud when she traded securities to 200 or more investors for proceeds of at least $100 million.

In addition to the $33 million fine, the panel ordered that Samji pay to the commission $10,811,799, the amount determined to be the difference between the monies deposited by the investors pursuant to the fraud, and the monies paid out to them.

The panel also ordered that Samji resign any position she holds as a director or officer of an issuer or registrant. She is permanently prohibited from trading in securities, purchasing securities or exchange contracts (with limited exceptions), and from becoming or acting as a director or officer of any issuer or registrant. She is also permanently prohibited from becoming or acting as a registrant or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.