British Columbia’s David Seydoux has been accused of widespread “pumping and dumping” stock fraud.

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Vancouver businessman David Seydoux faces new fraud charges, this time claiming it was part of a multi-year “pump and dump” scheme that has siphoned off more than $145 million in investors.

The allegations were made public in the United States Securities and Exchange Commission (SEC) complaint Filed in Southern District Court of New York on Thursday. Sidoo and seven others were named.

The complaint describes a scheme that ran from 2006 to 2020.

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The SEC alleges that the group acquired controlling stakes in companies, hid its collective control of the shares, funded misleading promotional campaigns to attract interest among unsuspecting investors, and then emptied their stock holdings to take advantage of the inflated stock price.

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It is alleged that the group will split the profits, while keeping some of the money to fund the next pumping and dumping.

The Securities and Exchange Commission stated that Ronald Power, a “London-based “return of criminality”, was the mastermind of the operation, and led the most prolific of the three episodes involved in the scheme.


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British Columbia businessman David Seydoux has been released from prison and returned to Canada


British Columbia businessman David Seydoux released from prison and returned to Canada – December 17, 2020

Sidoo collaborated with that episode on two pumping and dumping campaigns that, the Securities and Exchange Commission alleges, involved shares of North American Oil & Gas Corp. and American Helium Inc.

Sidoo used offshore “comprehensive vehicles and front companies” to disguise the fact that he was the beneficiary of the stock sales. He failed to disclose his beneficial ownership and record sales of his shares, as required by law for SEC claims.

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The episode used Swiss financial services platforms to move the stock. The Securities and Exchange Commission alleges that Sidoo and his co-conspirators illegally obtained $15.23 million in dumping their North American oil stocks in 2013 and 2014, and another $1.45 million in the 2018-2020 sale of U.S. helium stocks.

The Securities and Exchange Commission said Seydoux, who worked as a stockbroker for eight years in the 1990s, would have been well aware of federal securities laws that the scheme had violated.


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British Columbia businessman David Seydoux has received a 90-day prison sentence in a US college admissions scandal.


British Columbia businessman David Seydoux received a 90-day prison sentence in the US college admissions scandal – July 15, 2020

The Securities and Exchange Commission is seeking stock-trading injunctions against the defendants, along with the return of “unlawful” profits.

Sidoo has not been charged with a criminal offense. Through his attorney, he denied all allegations related to the SEC complaint. None of the claims have been substantiated in court.

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The Department of Justice announced Thursday that four alleged collaborators named in the SEC filing, including Bauer, a dual citizen of Canada and the United Kingdom, and two other Canadians, Craig Oringer and Curtis Lehner, face charges related to wire and paper fraud. Finance.

Three other Canadian citizens, Dominic Calabrego, Julius Csurgo, and Anthony Korculanek, face criminal charges related to the alleged scheme.

Seydoux, a businessman, philanthropist and former Canadian Football League player, pleaded guilty to his role in the high-profile US college admissions scandal in 2020, and was sentenced to 90 days in prison.

Prosecutors in that case alleged that he paid people to take his children’s SAT tests, and tried to pay for other tests on top of those.

was later Invented from the Order of Q His name was honor Removed from UBC Football Stadium.

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