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by Mike Caswell
The U.S. Securities and Exchange Commission has revoked the registration of Forum National Investments Ltd., a yacht charter company that is the subject of civil fraud charges against Vancouver's Dan Clozza and others. The SEC claims that Mr. Clozza, 54, was part of an on-line touting campaign in 2012 that boosted the company to $1.90. (All figures are in U.S. dollars.) The stock sharply declined after the campaign, and was last at 1.7 cents.
The revocation is contained in an administrative order dated Tuesday, Jan. 20, 2015. Although the SEC previously made many allegations surrounding Forum, the stated reason for revoking the stock is that the company is delinquent in its filings. Forum has not filed any financial results since the fiscal year ended Sept. 30, 2012, and is already the subject of a cease trade order by the B.C. Securities Commission.
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CANADA.COM |
Dan Clozza |
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