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by Mike Caswell

The B.C. Securities Commission has filed a notice of hearing against B.C. residents Matthew John Hamilton and Braeden William Sinclair Lichti, claiming that the pair created an OTC Bulletin Board shell that was primed for manipulation. Among other things, they concealed their control over all of the company's shares, the BCSC says. The company was later used for what the BCSC describes as suspicious activity.

The allegations are contained in a notice of hearing that the BCSC released on Monday, May 8. The scheme, as described by the BCSC, stems from the creation of a company called Guru Health Inc. (later renamed Global Stevia Corp.). The BCSC says that Mr. Hamilton incorporated Guru Health in February, 2010, through an agent in Nevada. He controlled the company through a nominee chief executive officer, the BCSC claims. (Regulatory filings identify the company's CEO when it listed as a 27-year-old Calgary woman named Vanessa Gillis.)

In getting the company listed, Mr. Hamilton committed many violations, at least in the eyes of the BCSC. One of the hurdles that he faced in obtaining a U.S. listing was the requirement that Guru Health have a roster of independent shareholders. According to the BCSC, he had the nominee CEO get family and friends to sign subscription agreements. Those family and friends then held the company's shares, at least on paper. The BCSC says that none paid for the shares, and the share certificates remained with Mr. Hamilton.

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