Fraud

BC rep fined $50,000 for client neglect

On April 25, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between the IIROC staff and Syvert Mytting. Mytting admitted he promised to guarantee the future value of one client’s account, and then assumed a personal interest in the account. He also admitted his recommendations to […]

By Staff |May 18, 2012

2 min read

PI Financial rep banned, fined $150,000

Following a disciplinary hearing on February 29, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) found Sammy Shieh Lung Pan liable for breach of IIROC rules. He violated Dealer Member Rules 29.1 and 1300.1(a) in loaning money to a client without the consent of his firm, and failing to make […]

By Staff |May 18, 2012

2 min read

Nova Scotia pair sanctioned for Ponzi scheme

The Nova Scotia Securities Commission has reciprocated a Florida District Court order with sanctions against Nova Scotia resident Robin States. States, also known as Gregory Hampton, was operating as Infinity Online Investors Group. The hearing against Bernadette Bowden, also known as Bernadette States, was adjourned to June 14, to give her an opportunity to consult […]

By Staff |May 18, 2012

2 min read

Two men fined $1.2 million by BCSC

A British Columbia Securities Commission panel has sanctioned two men and two companies for illegally raising money from Canadian and U.S. investors. In December 2011, a commission panel found Daniel Scammell and Casper de Beer guilty of trading securities without being registered and distributing those securities without filing a prospectus. From September 2006 to December […]

By Staff |May 17, 2012

2 min read