Enforcement Roundup: May 2021

The May 2021 edition of the Enforcement Roundup summarizes two enforcement actions from the British Columbia Securities Commission (BCSC).

BCSC Enforcement

Criminal Charges

Jeffrey Shaughnessy

Shaughnessy, a Vancouver resident, is accused of committing two counts of fraud over $5,000 and two counts of theft over $5,000 under the Criminal Code. The charges relate to crimes that allegedly took place in September and October 2017.

Shaughnessy, 48, was arrested on May 14 following a joint effort by the BCSC’s Criminal Investigations Branch and the Vancouver Police Department.

Read the news release for full details.

News Release

Settlement Agreements

Shijun “Clark” Zhu

Zhu, a Burnaby resident,  who committed unregistered trading and advising, must pay $40,000 as part of a settlement agreement with the BCSC.

In addition to the financial sanctions, Zhu is prohibited for ten years from various securities-related activities.

Read the news release for full details.

News Release

Report a Concern

If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected]. You can also file a complaint or submit a tip anonymously using BCSC’s online complaint form.

InvestRight.org is the British Columbia Securities Commission’s investor education website. Subscribe to receive email updates from BCSC InvestRight.

Suggested Reading

Enforcement Roundup: April 2021

Investor Warning: Protect Yourself From Online Crypto and Forex Schemes

Investment Caution List: 24 New Additions

More Resources

Fraud Warning Signs

The Enforcement Roundup is a monthly summary of enforcement decisions in British Columbia taken by securities regulators.

High-Risk Investments

The Enforcement Roundup is a monthly summary of enforcement decisions in British Columbia taken by securities regulators.