The October 2024 Enforcement Roundup highlights three enforcement actions taken by the BC Securities Commission (BCSC). It also includes 10 new additions to the Investment Caution List.
BCSC Enforcement
BCSC Settlement Agreement
Tajkarim Mohamed
A North Vancouver man has agreed to pay $135,000 and a temporary market ban after admitting to facilitating trades worth about $12 million while unregistered. Mohamed entered into agreements with two issuers where he received finder’s fees for introducing investors to the issuers.
He earned about $111,000 in cash and $647,820 in shares as compensation for facilitating 66 distributions of securities. The shares received as compensation have since been returned and Mohamed has been temporarily banned from participating in investment market for four years, except as an investor in his own accounts.
Read the news release for full details.
BCSC Penalties
Bradley Donald Moore
The CEO of Global Compliance Applications Corporation, a publicly-traded company, has been imposed a $40,000 administrative penalty for failing to file timely reports of trading in securities. Moore completed 156 transactions between September 2018 and December 2020 which had a total value of $614,938.
Read the news release for full details.
BCSC Findings
Gregory William Lawrence
A Vancouver man has been charged with three offences under the Securities Act following an investigation by the Criminal Investigations Branch of the BCSC.
Lawrence made his first appearance on October 20 in Vancouver Provincial Court for charges of fraud, making a misrepresentation to an investor, and making false/misleading statements to BCSC staff.
Read the news release for full details.
BCSC Early Intervention
The BCSC Investment Caution List notifies British Columbians about unqualified investments and unregistered activity originating outside the province but accepts BC residents as clients.
Below are the October additions to our Investment Caution List:
International Reserve
International Reserve claims to offer different types of accounts for trading contracts for difference (CFDs) in forex, cryptocurrencies, stocks, indices, and commodities.
Vortic United
Vortic United claims to offer trading services for cryptocurrencies and the BCSC is aware that they accept BC residents as clients.
StoxInvest
StoxInvest claims to be located in Denmark and it also claims to offer different types of accounts for trading in stocks, cryptocurrencies, forex, and commodities.
W-Bull
W-Bull claims to be located in the United States and it also claims to offer different types of accounts for trading in commodities, stocks, forex, cryptocurrencies, and indices.
TopWealth
TopWealth claims to offer different types of accounts for trading forex, cryptocurrencies, indices, metals, energies, futures, and stocks.
HyperVerse
HyperVerse claims to offer trading services for stocks, options, and ETFs.
Arbetx
Arbetx claims to be located in the United Kingdom, Cyprus and Saint Vincent and the Grenadines. It also claims to offer trading services for cryptocurrencies.
BTCH
BTCH claims to be located in Canada and it also claims to offer trading services for cryptocurrencies.
GoldenSphereAgency
GoldenSphereAgency claims to offer different types of accounts for trading in forex, stocks, indices, cryptocurrencies, and commodities.
Eralmonum App
Eralmonum App claims to be a Canadian crypto wealth platform and it also claims to offer trading services for cryptocurrencies, stocks, and funds.
Report a Concern
If you have concerns about a person or company offering an investment opportunity, please contact the BCSC Contact Centre at 604-899-6854 or 1-800-373-6393 or by e-mail at [email protected]. You can also file a complaint using BCSC’s online complaint form.
If you have information relating to fraud or serious market misconduct, you can securely submit tips through our Whistleblower program. Qualified tips may be eligible for cash rewards up to $500,000.
InvestRight.org is the BC Securities Commission’s investor education website. Subscribe to receive email updates from BCSC InvestRight.
