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by Mike Caswell

A judge in the Supreme Court of British Columbia has ordered Burnaby's Harish Tak to answer questions from the B.C. Securities Commission arising from his trading in two companies. Mr. Tak had been refusing to answer the questions, citing the possibility that the BCSC could share his information with U.S. authorities. The judge, however, has found that there is no legal basis for Mr. Tak's refusal.

The ruling arises from a BCSC investigation into trading in a pair of companies, Newgen Biopharma Corp. and Breathtec Biomedical Inc., which were listed on the OTC Markets and the Canadian Securities Exchange. The regulator is looking into unspecified activity with those companies and its investigation led it to Mr. Tak. The BCSC says that he is not a target of the investigation, but that he may have pertinent information.

The problem came about when the BCSC issued a subpoena in which it compelled Mr. Tak to attend an interview, scheduled for Aug. 24, 2017. On that date, Mr. Tak arrived with his lawyer and refused to answer any questions. The refusal came after the BCSC informed him that anything he said could be shared with the U.S. government.

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