B.C. woman gets securities ban for fraud

Fines and permanent securities trading prohibition levied for fraud and breaching cease-trade order
A Facebook page under the name Enna Keller has posts referencing Lexicon Building Products & Engineering Systems LLC. Keller was director for  Lexicon Building System.

A B.C. woman has been fined and permanently banned from securities trading for defrauding investors, many of them B.C. residents, and breaching cease trade orders.

Enna M. Keller, a B.C. resident, and Richard Lian, an American who also went by the name Richard Terry Ruuska, have been permanently banned from trading in securities by the BC Securities Commission, and have each been ordered to pay a US$250,000 penalty.

The BCSC also issued permanent securities trading bans on Lian’s two companies, EagleMark Ventures LLC and Falcon Holdings LLC.

The bans resulted from an investigation that found Keller and Lian had raised US$3.2 million from 315 investors for a company, Lexicon Building Systems Ltd., which had been under a cease-trade order since 2009.

An investigation revealed that Lian spent $2.4 million on things unrelated to Lexicon.

Keller was a director for Lexicon between 1993 and 2007 and had served as CEO. The company billed itself as a distributor of a buildings material called Polyblock.

Although the company is listed as having its head office in Las Vegas, the company is an issuer in B.C. and its most recent press releases have letterhead with an address in Surrey, but no phone number. The releases are not signed by any officers of the company.

A Facebook post under the name Enna Keller includes posts about Lexicon Building Products & Engineering Systems LLC and a newsfeed reference to Polyblock.

According to Lexicon’s financial statements, in 2009, the company had just $224,223 in revenue and $1.2 million in expenditures, including $748,324 in administration fees. It had a $1.2 million operating loss for that year and $11 million accumulated deficit. The company had had a cease trade order against it since 2009.

Despite that order, Lian and Keller raised US$3.2 million, with the aim of trying to bring the company back from bankruptcy and have the cease-trade order lifted, according to the BCSC.

Neither Keller nor Lexicon Building systems could be reached for comment. Its website is disabled and no contact number is provided.

nbennett@biv.com

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