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ASC alleges Coastal Pacific Mining Corp. and related companies inflated prices for Coastal securities
http://www.albertasecurities.com/news-and-publications/Pages/customdisp.aspx?pi=1548
CALGARY - September 6, 2016 – Alberta Securities Commission (ASC) staff have issued a Notice of Hearing against Coastal Pacific Mining Corp. (Coastal), International Securities Group Inc. (ISG) and Caribbean Overseas Investments Ltd. (COIL), alleging breaches of Alberta securities laws.
In the Notice of Hearing, ASC staff allege that Coastal, ISG and COIL breached sections 93(a)(i) and (ii) of the Act by engaging in an act, practice or course of conduct relating to Coastal securities that resulted in or contributed to a false or misleading appearance of trading activity in and an artificial price for those securities.
ASC staff further allege that the breaches of the Act by Coastal, ISG, and COIL constitutes conduct that is contrary to the public interest.
These allegations have not been proven.
In August 2013, the ASC issued a Cease Trade Order against Coastal that continues to remain in effect.
An appearance to set a date for a hearing will be held on September 7, 2016 at 9:00 a.m. in the ASC Hearing Room on the 5th floor, 250 – 5 Street S.W., Calgary, Alberta.
A copy of the Notice of Hearing can be found on the ASC website at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
CPMCF SEC Suspension for Financials / Filings delinquencies:
https://www.sec.gov/litigation/suspensions/2016/34-78135.pdf
Order:
https://www.sec.gov/litigation/suspensions/2016/34-78135-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2016/34-78136.pdf
CPMCF SEC Suspension for Financials / Filings delinquencies:
https://www.sec.gov/litigation/suspensions/2016/34-78135.pdf
Order:
https://www.sec.gov/litigation/suspensions/2016/34-78135-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2016/34-78136.pdf
This was the first stock I ever traded....and the fastest I ever got wiped out....one day lol
ASC sentences pump and dumper to 18 month conditional sentence for Coastal Pacific fraud
Stockhouse.com
1 hour ago
http://www.stockhouse.com/news/newswire/2015/09/29/asc-sentences-pump-and-dumper-to-18-month-conditional-sentence-for-coastal
CALGARY –Joseph Gaetano Bucci, president and CEO of Coastal Pacific Mining Corp. ( OTO:CPMCF, Forum), has pled guilty to acting as a dealer of securities without registration, not filing a prospectus, and engaging in a course of conduct that resulted in a false appearance of trading activity and an artificial price for the Coastal Pacific securities. Provincial Court Judge Skene accepted the pleas and sentenced Bucci to an 18 month conditional sentence.
Judge Skene also ordered that Bucci be permanently prohibited from:
* trading in and purchasing securities or derivatives of publically traded or quoted issuers;
* using any exemptions in Alberta securities laws; and
* acting in a management or consultative capacity in connection with activities in the securities market.Additionally, Bucci was ordered to forfeit to the Crown as costs of its investigation any funds in the bank account of Ox Financial Inc., his wholly-owned company. The other accused in this case, Caroline Meyers (a.k.a. Caroline Winsor, a.k.a. Caroline Danforth), is scheduled to return to Provincial Court on November 17, 2015 to speak to the charges.
“This is the first court sentence to be handed down in a “pump and dump” market manipulation case in Alberta,” says ASC Director of Enforcement Cynthia Campbell. “Jail is the appropriate starting point for this type of misconduct as it involves the deception of innocent purchasers of securities in the market. The conditional sentence recommendation was agreed upon by the ASC due only to Mr. Bucci’s serious health issues.”
The charges are in connection to the 2010 market manipulation of Calgary-based Coastal Pacific securities. In Agreed Facts presented to the Court, Bucci admitted that he helped organize a shell company (Coastal Pacific) and with Meyers’ assistance got it quoted for trading on the U.S. Over-the-Counter markets. On September 23, 2010, Bucci prepared nine news releases for scheduled distribution regarding Coastal Pacific’s operations. At roughly the same time, an online promotional campaign with respect to Coastal Pacific was orchestrated by individuals in Vancouver. The effect of these actions was to take Coastal Pacific trading from zero activity and no value to upwards of 60,000,000 shares traded and prices exceeding $0.50 per share. Once the news releases and promotional campaign ceased, the trading and value of the Coastal Pacific securities returned to almost nothing.
A copy of a transcript of the court proceedings including the oral decision can be obtained through the Provincial Court of Alberta in Calgary.
The ASC gratefully acknowledges the assistance of the following law enforcement agencies in this matter: Royal Canadian Mounted Police, British Columbia Securities Commission, Autorité des marches financiers, U.S. Financial Industry Regulatory Authority, U.S. Securities and Exchange Commission, U.S. Department of Justice and Federal Bureau of Investigation.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
http://www.stockhouse.com/news/newswire/2015/09/29/asc-sentences-pump-and-dumper-to-18-month-conditional-sentence-for-coastal
they are upgrading their website that might say something !!!
Why is the stock up 400% today? No news stories posted. Anyone know anything?
today was great!!! need more,more, tomorrow!!!
Yea this burned me a few years back when i first started trading, around $900 worth never sold and bought some more last year to avg down in case of a run up, but my break even price is .06 so i dont think we will make it there, would of been nice to get those .0002s last week who would of thought it would rise back to this level, but this is pennyland anything is possible here
Yes I agree with you. Empty shell, more then likely a pump and dump. Either way- soon gold will be over 2k, and everyone and their mother will be on the gold bandwagon. Many will make a fortune and many more will lose everything..
I'm selling the shell company at the next uptick. Placing my funds into more reliable companies.
More buying today in CPMCF. MMs lined up on the bid. Something must be up.
As far as I know there is nothing going on seems like it might be an empty shell
Yes I agree, wtf?? What is the news?
This also happen to Jag jagurar mining two weeks ago was up 41,000% then dropped back down... Also no news ( but they are dealing with a delisting and a bk).
So what's up with Coastal Pacific Mining? Any ideas ...
Wtf? Vol out of no where up over 1700%, damn when it dropped yesterday was thinking of putting a but order in ,
is true...it never ends up good with this guy.Someone thought this joe is the bodybuilder! haha i never laughted so hard.Does he enter in jail Insha'Allah
http://www.timothysykes.com/2010/11/how-joe-bucci-of-ox-financial-turned-184413-into-30-million-in-4-months-working-from-this-shabby-house-cell-phone-amazing-story-picture/
how he do it?how he make all dis money?i wish i make dis money!big Joe like superman!
Which Attorneys will start the class action on this one?
CEASE TRADE ORDER - ALBERTA SECURITIES COMMISSION
this one burned alot of people, one of my first lessons in pennyland, i avg down to about .06 hoping for some random run so maybe can get most of my $ back
This was the scam I left in my portfolio to remind me of what NOT to do again lol...I have shares for $0.40 of this absolute piece of dog shit
Hmmm. odd seeing you in the basement. Weekly seems to be getting closer.
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Is there life left here? this hasnt had any real action for a couple years,
do you have contact info for joe bdaddyay? If so call him and he can discuss the transfer. if not, answer this post or send me an email @ derrickweaver17@hotmail.com
spoke with Joe last night, he needs someone to take over co., since he is being investigated and not the company he suggest someone in the US take it and continue mining activities on the Peru property. He is willing to assist as much as needed. He is also willing to gift his shares to the new owner. Any takers? This is necessary to get the share price moving again.
Yeah I was wondering if CPMCF was looking for gold or if everything was on hold. The PPS should be around .0001 if nothing is going on. I will wait to see if they announce any activity before jumping in. Past history says it is worth watching because this guy knows how to get the pps up.
They done with litigation yet? Do they really have properties and assets? Not sure - no vol. will keep waiting on news. Not going anywhere.
Thought CPMCF would have become more active by now. I wonder if the search for gold is still on or are they looking for a new deal.
Someone generating penny trades just to keep this symbol active..... Apparently
Put a bid in, see what happens.. long shot gamble but thats why we are here
why wouldnt they halt it? i been sitting on shares for awhile. thinking we might get some sort of bounce of the bottom here.
Might be a good thing. Managers might be forced to make some positive strides. I bought a few .
Yeah - that's not too good.
Well.....this can't be good news.
http://www.sacbee.com/2013/01/29/5149156/asc-charges-two-calgary-residents.html
maybe this action today will get some attention, run up or sell off at end of day or monday?
Whats happening? I didn't see anything
Finally received an emai from Joe! It was short - he said the Santa Rita project is still progressing but all is at a standstill for a bit. Not really sure what that means!
Its been awhile without any updates , hope there is something positive or atleast a pump one of these days got left with a bag awhile ago and avg. down to hopefully break even or make something
Is there any hope for CPMCF or are we just stuck in an infinite loop of litigation, no funding, no action, no information, no nothing? Summer's coming on! Go CPMCF
This explains why the PPS went to sub penny. That situation seems to have gone no where. Hence the new fresh move up
this statement from the most recent filing with the sec should say it all to all those who wish to invest in this:
At the present time, the Company has no access to the cash in its bank account. During May, 2011, the Company’s bank accounts were frozen by the Alberta Securities Commission (“ASC”), and the Company has received information indicating that the Alberta Securities Commission is investigating suspicious trades in the Company’s shares that occurred in and around November, 2010. The Company’s own investigation reveals that the Directors and Officers of the Company did not trade any shares in or around November, 2010, amidst an otherwise unusual trading volume and share price spike. The Company has had no further communication with the ASC in regard to the investigation as of the date of this filing and the funds remain frozen and not available in the Company’s bank account. The Company carries directors and officers insurance which will cover all but the first $100,000 of the legal fees in regard to this investigation should the Company be required to retain legal counsel to act on its behalf.
Sounds a little fishy to me. November 2010 that was when the stock was promoted by APS and it went from .06 to .81. Again this all my own opinion but personally i think they have waaaaaaaaaaay to much debt to do anything substantial with this company again this is all my own opinion
Where did you get the information concerning the new short term target price of .18?
This stock has a new short term target price of .18.. And that is first leg up.
There wont be real publicity until the stock is in the 5 cent range...
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BUSINESS SUMMARY:
symbol : cpmcf
Coastal Pacific Mining activities are to explore, develop and mine gold and silver resources in North and South America. As its primary focus, the company will joint venture with companies offering reserves to develop and produce. Currently the company is in joint venture agreements in Ontario, Canada. Our philosophy is to participate with Companies who are in the later stage of exploration and are ready for development. Gold and silver have been used as money for over 3,000 years. History has shown that in periods of market downturns gold and silver have proven to be a dependable hedge for investors against both inflation and any monetary crisis. | |
Coastal Pacific recognizes this well-known principal and will pursue all opportunities to maximize shareholder value. Opportunities are available to the company to bring increasing value to the shareholders through active participation and production. Through careful evaluation of all prospects and before making the decision to participate, Coastal will take the approach of reviewing all aspects to maximize returns and reduce risk. Coastal Pacific promises to become one of the leaders in actively mining prospects that have already been discovered and take them into production. Its team of executives and consultants are equipped to evaluate any and all prospects that become available.
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Coastal Pacific Mining Corp. is an exploration-stage company. The Company is engaged in exploring, developing and mining gold and silver resources in North and South America. The Company focuses on the exploration of gold. As of April 30, 2009, the Company has entered into a joint venture agreements in Chile, Canada and the United States of America. It has mining properties in Canada and in United States of America. The Company holds 100% interest in Tenure Number 530021, known as the Violet East Claim, Axe Property, Liard Mining Division, located in the Stikine region of northwestern British Columbia, Canada, approximately 118 miles (190 kilometer) north of Stewart, British Columbia. The Company’s registered agent in Canada is International Securities Group Inc.
CHART:
SHARE INFO:
38.8M Share count
From Otcbb.com (Operated by FINRA)
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35,800,000 |
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