News Release

B.C. Securities Commission alleges Victoria man defrauded investor

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Vancouver – The Executive Director of the British Columbia Securities Commission has issued a notice of hearing alleging that a Victoria man defrauded an investor.

The notice alleges that Larry Keith Davis befriended a woman in 2009 and later convinced her to purchase shares, through him, in a U.S.-based company whose securities traded over-the-counter (OTC) in the United States. Davis, who previously worked in investor relations, has never been registered to sell securities.

BCSC staff alleges that Davis sold shares to the woman on two separate occasions. Davis told the woman that her investment had the potential to double within a year, and that there was a short window of time to invest. On June 24, 2011,the woman gave Davis a total of $4,000 to purchase 40,000 shares.

On April 13, 2012, the woman purchased an additional 30,000 shares for $3,000.

In fact, Davis did not own, and never did own, the shares. Instead, staff maintains that he used the funds to cover personal expenses unrelated to the shares, thereby perpetrating a fraud.

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 31, 2015 at 9:00am

You may view the notice of hearing on our website,, by typing Larry Keith Davis or 2015 BCSECCOM 93 in the search box. Information about 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 of Canada (MFDA).

About the British Columbia Securities Commission (

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

  • A securities market that is fair and warrants public confidence
  • A dynamic and competitive securities industry that provides investment opportunities and access to capital

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Richard Gilhooley, Media Relations

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