Vancouver sun newspaper figured it out long ago
“When publicly available information is scarce,” the SEC said, “fraudsters can more easily spread false information about a company, making profits for themselves while creating losses for unsuspecting investors.”
Among those involved in the United States is Raymond Dabney, whom retired Sun columnist David Baines once described as “one of the most outrageous promoters I have ever met.”
Dabney is now managing consultant at Cannabis Science Inc., even though in 2010 the SEC ordered Dabney and three others to pay a total of $1.4 million for stock manipulation.
In 2005, Dabney was kicked out of the B.C. securities market for five years and fined $30,000 after he issued 22 false news releases for his company Xraymedia Inc.
Meantime back in Canada, I’m sure it was only coincidence that the decision to change the rules around medical marijuana production happened on April Fool’s Day.
Even before that, B.C.’s corporate registry was humming with numbered companies transforming into cannabis growers and mining companies morphing into pot producers.
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