News Release
Securities Commission Bans Mervin Michael Bodnarchuk from Markets
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Date:
1997-07-11 -
Number:
97/18
Released: July 7, 1997 Contact: R.A. Messent 660-4800 or (BC only) 1-800-373-6393
The British Columbia Securities Commission has issued an order removing Mervin Michael Bodnarchuk’s trading exemptions and prohibiting Bodnarchuk acting as an officer or director of any issuer for 15 years. Bodnarchuk was also ordered to pay costs of the hearing in the amount of $1000.
Bodnarchuk has resided in British Columbia since 1980. Between 1990 and 1995, Bodnarchuk was convicted of over 50 offences under the securities legislation of Manitoba, Alberta and Saskatchewan. The offences related to trading in securities of Bodnarchuk’s two companies, Majik Rent-A-Car and (Canada) Magic International Rammer Ventures Inc. Many of the offences occurred while Bodnarchuk was subject to regulatory cease trade orders.
Bodnarchuk is the founder and the chairman of Renaissance Capital Group Inc., a company incorporated under the laws of the State of Utah. Renaissance is in the business of selling car financing and its shares trade in the over the counter market in the United States. Bodnarchuk has recently distributed some of the securities of Renaissance in British Columbia.
In determining that it was in the public interest to issue the orders against Bodnarchuk, the Commission said that:
Copies of the Commission’s order (5 pages) may be obtained in person at 1100 - 865 Hornby Street, Vancouver, British Columbia.