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by Mike Caswell

In 2012, an investing blog run by a graduate of the British Columbia Institute of Technology attracted some very flattering coverage in a Burnaby newspaper. The paper described, in the most positive terms, how the blog's readers were coming there for that "little financial edge." Unfortunately for the newspaper, the coverage could prove a little embarrassing in the wake of a notice of hearing the B.C. Securities Commission issued against one of the blog's operators on Monday. The BCSC claims that the operator, Noshad Dowlati, committed fraud and other violations.

The story of Mr. Dowlati begins with newspaper article that appeared in the Burnaby NewsLeader on March 6, 2012. It was written by Mario Bartel, an employee of the newspaper for 22 years. Mr. Bartel's article described how Mr. Dowlati and two BCIT students had set up an investment recommendation website called themorningreports.com. The three had met in school, and apparently came up with the idea of running a blog that could "earn them a few bucks and kickstart their careers."

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