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by Mike Caswell
The U.S. Securities and Exchange Commission has filed a court case in California seeking files from Vancouver-linked securities lawyer Andrew Coldicutt. The SEC is investigating Mr. Coldicutt over a series of suspicious initial public offerings. It says that he has failed to fully co-operate with the investigation, and is asking for a court order directing him to do so.
The request from the SEC is contained in a memorandum filed on May 4, 2017, in the Central District of California. The document describes how Mr. Coldicutt, who works from an office in San Diego, has been the lawyer for five IPOs that drew some scrutiny from SEC investigators. (The companies are AppointMed Inc., Axeture Corp., IWEB Inc., PharmaCyte Biotech Inc. and ROID Group Inc.) According to the SEC, the five companies are run by an undisclosed control person or promoter. The regulator does not provide any hints as to the identity of that person.
The SEC also says that Mr. Coldicutt may have played a significant role in fraudulent share issuances. He has written false and misleading opinion letters as part of share offerings, according to the memorandum. The SEC claims to have information showing undisclosed affiliations between shareholders of one of the companies, PharmaCyte.
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These criminals are able to collaborate with their children while committing serial fraud in extorting funds from an unsuspecting public. Handing down their sociopathic tendencies from father to son. The SEC and the BCSC seem powerless to do more than blow the whistle, collect payoffs for the fiscus and wait for it to happen all over again.