March 9, 2011
BCSC Executive Director’s Bulletin: Securities regulator alleges B.C. man perpetrated a fraud
Vancouver – The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging Adam Keller and Great White Capital Corp. (GWC) perpetrated a fraud when they raised funds from four investors.
The notice of hearing says that Keller, a B.C. resident, raised approximately $523,100 from two B.C. and two Alberta investors, claiming that he would execute trades in the foreign exchange market, or otherwise invest funds in unique investment opportunities on their behalf.
At the time, Keller was the sole director and signing authority for GWC, a company headquartered in West Vancouver, B.C.
The notice alleges, among other things, that the respondents perpetrated a fraud when they provided investors with false account summaries, and they failed to protect, secure, or return investors’ funds as promised. Additionally, it alleges that Keller did not invest the funds solicited from investors, but instead used the funds for personal purposes.
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 March 28, 2011 at 9:00 a.m.
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, www.bcsc.bc.ca. If you have questions, contact Ken Gracey, media relations, 604-899-6577.