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by Mike Caswell

The B.C. Securities Commission has added former Vancouver broker Doug Corrigan to the list of people that it accuses of manipulating Forum National Investments Ltd. in 2012. The BCSC claims that Mr. Corrigan entered trades in nominee accounts on the instructions of Forum's president, Dan Clozza. The trading came as the stock went to a $2.18 high, up from 15 cents.

The addition of Mr. Corrigan comes six years after the BCSC accused Mr. Clozza and others of manipulating Forum. The regulator claims that the group boosted the stock with "grossly promotional" material as well as false or misleading news releases. The BCSC's accusations are mostly levelled at Mr. Clozza, but on Tuesday, June 19, the BCSC issued an amended notice of hearing that adds Mr. Corrigan.

The scheme, as set out in the amended notice, goes back to December, 2011, when Forum was in some financial difficulty. The stock had not traded for over two months, and had last changed hands at 15 cents. The BCSC says that Mr. Clozza hired an outside promoter to boost Forum in April, 2012. The plan was for Forum to issue news releases as the promoter published his materials, the notice states. As well, Mr. Clozza directed Mr. Corrigan to start trading the stock through nominee accounts, the BCSC claims.

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