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by Mike Caswell

The B.C. Securities Commission has begun an administrative action against Rodney Snider, a Kelowna taxi driver, for illegally distributing promissory notes in a controversial former TSX Venture Exchange listing. The regulator claims that Mr. Snider raised $140,500 for Flag Resources (1985) Ltd. without a prospectus and without being registered. The money went to a director of the company who has since died, the BCSC says.

The allegations are contained in a brief notice of hearing the BCSC issued on Tuesday, Nov. 25. The notice identifies Mr. Snider as a taxi driver who held himself out as an investor relations representative of Flag Resources, a delisted TSX-V company. Between January, 2009, and May, 2012, he sold promissory notes in the company to 11 investors, according to the notice.

EBAY

Taxi

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