On April 25, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between the IIROC staff and Syvert Mytting. Mytting admitted he promised to guarantee the future value of one client’s account, and then assumed a personal interest in the account. He also admitted his recommendations to […]
Following a disciplinary hearing on February 29, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) found Sammy Shieh Lung Pan liable for breach of IIROC rules. He violated Dealer Member Rules 29.1 and 1300.1(a) in loaning money to a client without the consent of his firm, and failing to make […]
The Nova Scotia Securities Commission has reciprocated a Florida District Court order with sanctions against Nova Scotia resident Robin States. States, also known as Gregory Hampton, was operating as Infinity Online Investors Group. The hearing against Bernadette Bowden, also known as Bernadette States, was adjourned to June 14, to give her an opportunity to consult […]
A British Columbia Securities Commission panel has sanctioned two men and two companies for illegally raising money from Canadian and U.S. investors. In December 2011, a commission panel found Daniel Scammell and Casper de Beer guilty of trading securities without being registered and distributing those securities without filing a prospectus. From September 2006 to December […]
Jitney preferencing, comparable to circular trading, impedes fair marketplace access and should not be facilitated, says the Ontario Securities Commission. A jitney order refers to the execution and clearing of orders by one member of a stock exchange for the account of another member. For example, a small investment dealer that can’t support a trader […]
Canadian exchanges, when compared with those in the U.S. and U.K., report and litigate the lowest percentage of financial fraud cases each year. Unfortunately, this doesn’t mean Canadian fraudsters aren’t out there—it means our regulators aren’t catching them.
The owners of a dot-com firm are headed to prison for fraud and conspiracy. With the help of two stock promoters, father-daughter duo Nasser and Sholeh Hamedani tricked investors into purchasing 2.7 million shares of their company, The Children’s Internet, at a cost of about $5.5 million. The pair defrauded investors by stating the company’s […]
Two people charged with one count each of engaging in fraud against persons or companies to whom they traded securities.
The U.S. soldier accused of murdering 16 civilians in Afghanistan has a rather checkered past, as an Ohio stock broker, according to a report on Bloomberg.com.
Brian Raymond Callahan, a New York-based investment advisor, snagged more than $74 million from at least 24 investors over the past seven years.