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by Mike Caswell

The B.C. Securities Commission has filed a court case against Garo Deyrmenjian, a Vancouver man fined for the 2011 manipulation of Kunekt Corp., claiming that Mr. Deyrmenjian fraudulently conveyed several assets to avoid paying the BCSC. The assets listed by the BCSC include two properties in Vancouver along with a Maserati Gran Turismo. According to the BCSC, Mr. Deyrmenjian transferred the assets to family members and has failed to pay $7.8-million in sanctions.

The allegations from the BCSC come as a footnote to its case against Mr. Deyrmenjian and others for the manipulation of Kunekt, a stock that went to $2.89 amidst misleading claims about a smartphone business. According to the BCSC, the group touted Kunekt as "the next Apple" while unloading shares. The BCSC ordered Mr. Deyrmenjian to disgorge $7.14-million in gains, plus a $700,000 fine. Mr. Deyrmenjian unsuccessfully appealed the sanctions, losing in 2024.

The present case centres around the BCSC's efforts to collect the money. In a notice of claim filed at the Vancouver courthouse on Tuesday, March 10, the BCSC sets out how Mr. Deyrmenjian had interests in two properties in Vancouver. The properties were located on West 38th Avenue and East 35th Avenue.

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