In ISIS Beatles case, UK Appeal Court rules that complying with some US MLATs to hand over evidence in an investigation is unlawful; relevant for Canada as well

Tweet Cruel and unusual punishment Everything I know about the Eighth Amendment and death penalty jurisprudence, I learned from former US Supreme Court Justice Anthony Kennedy, from whom I had the privilege of studying law during a course on international human rights and constitutional law. US Supreme Court Justice Kennedy, as he was then, was […]

Proceeds of crime from US$550 million Ponzi scheme go on sale at online auction next week as Covid-19 solution

Tweet The proceeds of crime from a massive US$550 million Ponzi scheme perpetrated by two convicted fraudsters in the US – Kevin Merrill and Jay Ledford – are being auctioned at an online auction house starting next week, in part because of Covid-19. Diamonds, sports memorabilia, art, gold coins, comic book from securities fraud being […]

Rewind to 2019’s most unusual financial crime case – the Ponzi schemer who paid US$720,000 for online spiritual rituals and filled freezers with beef tongues to cast voodoo spells on SEC lawyers to stop an investigation

Tweet This case wins first prize as the most unusual financial crime case of 2019. It’s about Dawn J. Bennett, a former stock broker from Maryland, who first worked with Western International Securities. In addition to selling securities, Bennett was a financial expert on a radio show where she dispensed investment advice and believed that […]

BCSC and SEC jointly temporarily cease trade Vancouver company over Covid-19 PPE promotion

Tweet The British Columbia Securities Commission (“BCSC“) and Securities and Exchange Commission (“SEC“) have jointly issued temporary cease trade orders in respect of a Vancouver company called Micron Waste Technologies Inc. (“Micron“). The BCSC cease trade order is here; the SEC cease trade order is here. It has been a number of years since a […]

“There is no point to a lawsuit if it merely applies the law to lies” – SEC wins extreme remedy against digital currency exchange founder whose credibility is shot

Tweet The founder of a digital currency exchange lied so much to the Securities and Exchange Commission (“SEC“) during its investigation and to a California Court, and made himself so not credible, that a Court has recommended one of the harshest remedies available – to deprive the defendant of the constitutional right to be heard […]

Canadian who hid out in Canada for several years to avoid US prosecution, pleads guilty to securities fraud in New York

Tweet A Canadian, possibly Iranian Canadian, pled guilty in New York today to conspiracy and securities fraud in connection with a scheme where fake securities of tech companies, such as Twitter and Uber, were sold to investors who suffered losses of US$18 million. Fred Elm, whose real name is Frederic Elmaleh from Toronto, led an […]

3 Canadians who operated a $233 million binary financial biz accused of lies and illegal securities distribution by Ontario Securities Commission

Tweet Three Canadians who ran a binary financial business that allegedly took in $233 million from investors, are alleged to have engaged in the illegal distribution of securities that impacted investors from several countries in the world. The three are Josh Cartu, Jonathan Cartu and David Cartu. The binary business was allegedly operated in Israel. […]

BC Securities Commission issues intriguing cease trade order against a non-BC company

Tweet Updated July 8, 2020 Cease trade order against foreign entity The British Columbia Securities Commission (the “BCSC“) has issued an intriguing order that all persons must cease trading (the “CTO“) the shares of a non-British Columbia company called Sandy Steele Unlimited Inc. (“Sandy Steele“). Sandy Steele is a pubco incorporated in Minnesota that appears […]

SEC files for default judgment against several shell companies allegedly controlled by Vancouver men accused of US$35 million international pump and dump

Tweet This week, the Securities and Exchange Commission (“SEC“) filed applications for default judgement against several companies, including several shells in tax havens with Canadian nominee control persons, involved in an alleged US$35 million international pump and dump scheme. Six individuals, including three Canadians, at least one from Vancouver, were charged in an SEC complaint […]

Another week; another SEC suspension of pubco shares connected to Canada promoting Covid-19 treatment

Tweet Cedar tree drugs for China The Securities and Exchange Commission (“SEC“) issued an order to temporarily suspend the trading of the shares of another pubco with ties to Canada – this time is was Vancouver-based Roadman Investments Corp. (“Roadman“). Roadman made statements to the investing public suggesting oil from cedar leaves may be effective […]