Richmond’s Donald Dyer broke securities laws when he sold stock to a U.S. company, the British Columbia Securities Commission revealed December 21.
Dyer raised money for Global 8 Environmental Technologies Inc. through Pacific Ocean Resources Corp., a Langley-based company that Dyer owns.
He raises money for public companies, though neither Dyer nor his company are registered to sell securities in B.C., the BCSC said.
Dyer raised US$836,000 for Global 8 from 83 investors across Canada and the U.S. He never met any of the investors, the BCSC said, but he phoned them at their homes.
Global 8, which is a Nevada company quoted on the loosely regulated OTCBB exchange, has never filed a prospectus in B.C.
No punishment has yet been determined.
Glen Korstrom
@GlenKorstrom