Enforcement Roundup – November 2020

November’s edition of the Enforcement Roundup includes two British Columbia Securities Commission (BCSC) enforcement actions.

BCSC Enforcement

BCSC Criminal Enforcement

Ravinderpaul Singh Mangat (also known as Rob Mangat)

Mangat was sentenced to three years in prison for defrauding a Vancouver resident of $500,000.  

Mangat was convicted of two counts of criminal fraud over $5,000. In addition to the prison term, he must also pay $500,000 in restitution.

Mangat was initially arrested by the Vancouver Police Department following an investigation by the BCSC’s Criminal Investigations Branch.

Read the news release for full details.

News Release

BCSC Decisions

Earle Douglas Pasquill

A BCSC panel dismissed Pasquill’s effort to remove a preservation order preventing him from withdrawing or transferring funds from his registered retirement accounts.

Pasquill is under orders to pay monetary sanctions for perpetrating one of British Columbia’s largest frauds. He owes the BCSC an administrative penalty of $15 million, and is also liable for another $21.7 million, representing the ill-gotten gains that he and Michael Patrick Lathigee received from the misconduct.

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.

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A summary of enforcement decisions in British Columbia in November 2020 taken by securities regulators.

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A summary of enforcement decisions in British Columbia in November 2020 taken by securities regulators.