News Release

Vancouver – A BC Securities Commission panel has fined and ordered a permanent market ban against a man who fraudulently obtained over $500,000 from four investors.
 
Adam 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 invest funds in unique investment opportunities on their behalf. At the time, Keller was the sole director and signing authority for Great White Capital Corp. (GWC), a company headquartered in West Vancouver, B.C.

The panel found that Keller perpetrated a fraud when he lied to investors, provided them with false account summaries, and failed to protect, secure, or return investors’ funds as promised. Additionally, Keller did not invest the funds solicited from investors, but instead used the funds for personal purposes.

For his fraudulent actions, the panel permanently banned Keller from trading in securities, purchasing securities or exchange contracts, and from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager. He is also permanently prohibited from becoming or acting as a registrant, investment fund manager or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.

The panel also ordered Keller to pay to the commission the $523,100 he obtained as a result of his illegal activity, as well as an administrative penalty of $1.6 million.

In addition to the orders against Keller, Great White Capital Corp. was permanently cease-traded by the panel.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by typing Adam Keller or 2011 BCSECCOM 303 in the search box.  Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.

Please visit the Canadian Securities Administrators’ Disciplined Persons List 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 www.investright.org