BCSC Executive Director's Bulletin: Securities Regulator Issues Amended Notice of Hearing Alleging Market Manipulation by Seven Men
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/09/11 -- The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that seven men engaged in market manipulation, and that four of them also made false or misleading statements to commission investigators.
The notice alleges that Malkeet Singh Bains (Bains), Mark Aaron McLeary (M. McLeary), Timothy John McLeary (T. McLeary), Narvinder Singh Patric Virk (Virk), Robert Hainey (Hainey), Jerry Williams (Williams), and Erik John Benson (Benson) engaged in an orchestrated campaign to manipulate the share price of Sungro Minerals Inc., a Nevada corporation that originally had its head office in Surrey, B.C. Sungro is quoted on the U.S. over-the-counter bulletin board.
Bains, M. McLeary, T. McLeary, Virk, and Benson are all B.C. residents. Both Hainey and Williams reside in the United States.
The notice also alleges that Bains, M. McLeary, Virk and T. McLeary made false or misleading statements to commission staff.
The notice relates to an earlier notice of hearing and temporary order issued by the executive director on July 29, 2009 (2009 BCSECCOM 413).
These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners on Monday, September 26 at 8:30 am.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website by typing Bains, McLeary, Virk, Hainey, Williams, Benson or 2011 BCSECCOM 379 in the search box. Information regarding disciplinary proceedings can be found in the of the BCSC website.
Please visit the Canadian Securities Administrators' for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604-899-6854 or 1-800-373-6393 (toll free).
Learn how to protect yourself and become a more informed investor at:
Contacts:
British Columbia Securities Commission
Richard Gilhooley
Media Relations
604-899-6713 or (Canada) 1-800-373-6393
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Datum: 09.08.2011 - 06:00 Uhr
Sprache: Deutsch
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