GREY:GBLE - Post Discussion
Post by
mburns2000 on Jan 07, 2011 10:48am
BCSC news release
2011/02
January 5, 2011
BCSC Executive Director’s Bulletin: Securities regulator alleges Richmond man illegally sold
shares of U.S. company
Vancouver – The executive director of the British Columbia Securities Commissionhas issued a notice of hearing alleging that a B.C. man contravened various securities
laws when he and the company he controls sold the shares of an issuer quoted on the
U.S. over-the-counter markets to 85 investors.
The notice of hearing says that Donald Verne Dyer, a Richmond, B.C. resident, raised
money for Global 8 Environmental Technologies, Inc. (Global 8) through Pacific Ocean
Resources Corporation (PORC), a Langley-based company that Dyer controls. The
notice also says that Dyer and PORC distributed approximately US $836,000 in Global
8 securities to 85 investors.
The notice alleges that:
Between November 2005 and July 2009, Dyer and PORC illegally telephonedinvestors at their residences for the purpose of selling shares in Global 8, a
company quoted on the U.S. over-the-counter markets.
Dyer and PORC illegally distributed securities because they are not registered totrade securities in B.C., and Global 8 has never filed a prospectus in B.C.
Dyer, as the sole director and officer of PORC, authorized, permitted, oracquiesced in the company’s contraventions of securities laws, and, therefore
contravened the same securities laws.
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 Jan
26, 2011.
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.
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