News Release
BCSC EXECUTIVE DIRECTOR’S BULLETIN: Securities regulator gives notice of a hearing into alleged fraud
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Date:
2006-07-10 -
Number:
2006/23
Vancouver - The Executive Directorof the British Columbia Securities Commission has issued a notice of hearing alleging that Lionel Mervin Negus, Christopher John Thompson, and Kevin Wilson, along with four corporate entities, engaged in securities fraud, misrepresentation, and illegal trading and distribution, in connection with money raised using offshore companies.
The notice of hearing says that, from about September 2000 to March 2004, the men illegally solicited 64 investors to place about $11.5-million (U.S.) in the securities of Syndicated Gold Depository S.A.
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.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view notices of hearings on our website www.bcsc.bc.ca. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.