A B.C. man with a string of defunct OTC companies to his name has been arrested, charged and fined for fraud.
The BC Securities Commission’s criminal investigation team worked with Vancouver Police to arrest Kelly Fielder last week and charge him with fraud over $5,000 and theft over $5,000.
The charges stem from a securities investment the BCSC investigators believe to be fraudulent. The charges have not been proven in court.
It is not the first time Fielder has run foul of securities regulators. Fielder is listed on the Bloomberg Businessweek directory as president of Redcell Power Corporation. In 2009, the BCSC issued a cease trade order against Redcell for failing to file the required financial information required.
The U.S. Securities and Exchange Commission (SEC) also revoked Redcell’s registration for similar breaches of securities law.
According to Stockhouse, Fielder has a long – and not very successful – association with companies listed on the over-the-counter bulletin board (OTCBB). They include the following now-defunct enterprises:
- Travelshorts.com (OTCBB:TLSH)
- Sharps Elimination Technologies Inc. (OTCBB:SEMPT)
- Endeavor Energy Corporation (OTCBB:ENEC)
- Millenium Medical Supply Corp (OTCBB:MMDS)
Fielder is also listed as president and CEO of Quantum MRI Inc. (OTCBB: QTMR), formerly Sharps Elimination Technologies Inc. The penny stock company claims to a development stage company involved in the building of MRI testing centre in the U.S. and Canada.
Fielder has also been listed as a director for the following companies;
- Razor Resources Inc (OTCBB:RZOR);
- Silver Bell Resources; and
- Holloman Energy Corp.
