This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Vancouver's Avtar Dhillon, facing a $10.4-million judgment in favour of the U.S. Securities and Exchange Commission, will be placing a multimillion-dollar waterfront home in the Los Angeles area that he owns up for sale. (All figures are in U.S. dollars.) He says that he will be using the money to pay the SEC, which has a lien on the property. It is not clear what the property is worth, but it last sold in June, 2015, for $8.5-million.

REAL ESTATE AD

Avtar Dhillon's house

Mr. Dhillon's request comes as part of a case in which the SEC accused him of improperly selling shares in two OTC Markets listings, including one that touted a supposed surgical tool for controlling bleeding. He sold the shares amidst a scheme in which he and others unloaded $45.6-million worth of stock, the SEC said. Mr. Dhillon settled the case out of court, agreeing to disgorge $9.1-million in gains from the scheme, plus interest. Mr. Dhillon also pleaded guilty to related criminal charges in Boston, and awaits sentencing.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS