News Release

Vancouver – A B.C. man who touted a personal relationship with a prominent sports celebrity to defraud investors has been banned from the securities markets for 20 years by the B.C. Securities Commission.

Khem Singh Gill has been banned from trading securities and prohibited from being a director or officer of any issuer for 20 years. He is also prohibited from engaging in investor relations activities for at least 20 years.

In a settlement with the commission, Gill admitted that from February to September 2000, he solicited and obtained about $61,000 from B.C. investors for the purported purpose of buying for them shares of 3Com Corp. and MVP.com. He did not own or have any right to sell these shares.

In the case of MVP.com, Gill falsely represented to investors that he was a personal friend of a sports celebrity involved with the U.S.-based private company. He falsely represented that MVP.com was about to go public and that he had acquired the MVP.com shares from the sports celebrity.

In order to facilitate the sale of the shares of MVP.com, Gill forged signatures and created false documents. For example, he created:
· a letter addressed to himself and purportedly signed by the sports celebrity;
· a share certificate in the name of MVP.com; and
· a Registration Rights Agreement for MVP.com.

In March 2001, in relation to his activity in selling the shares, Gill pleaded guilty and was convicted in the Provincial Court of B.C. for committing eight counts of fraud, three counts of making forged documents, and one count of using a letter prepared on the letterhead of a law firm and purportedly signed by a lawyer while knowing it was a forgery. He was sentenced to nine months imprisonment followed by 15 months of parole. He was also ordered to pay restitution to the investors he had defrauded.

The commission investigated the matter after receiving a public complaint about Gill.


The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province. Copies of the settlement agreement can be viewed in the documents database of the commission’s website www.bcsc.bc.ca or by contacting Andrew Poon, Media Relations, 604-899-6880.