OSC cites Bharti, Said for disclosure failures
2026-04-13 19:17 ET - Street Wire
Also Street Wire (C-MEDV) Medivolve Inc (2)
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by Mike Caswell
The Ontario Securities Commission has begun proceedings against Stan Bharti, the Toronto businessman behind Forbes & Manhattan Inc., for improperly receiving shares in Canadian Securities Exchange listing Medivolve Inc. in 2020. The OSC claims that Mr. Bharti received three million Medivolve shares as part of a deal in which Medivolve acquired a company that developed medical technology related to COVID-19. As Mr. Bharti was a Medivolve director he was required to disclose the shares, but failed to do so, the OSC says.
The allegations are contained in a notice of hearing that the OSC released on Monday, April 13. The respondents are Mr. Bharti, who was born in India and has decades of capital markets experience in Canada. Also named is one of his associates, Ontario lawyer Neil Said.
The case arises from an acquisition that Medivolve made in April, 2020, in the early stages of the COVID-19 pandemic. The company acquired an entity called Amino Therapeutics Inc. for $2-million (U.S.) in cash and 15 million shares. At the time, Mr. Said was Medivolve's recently appointed chief executive officer, having taken over from Mr. Bharti weeks earlier. Mr. Bharti was a director of Medivolve.
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" As Mr. Bharti was a Medivolve director he was required to disclose the shares, but failed to do so, the OSC says."
Hmmmm. If the OSC wasn't informed, then one might wonder if the Canada Revenue Agency also wasn't informed.
I believe that some CRA auditors do subscribe to Stockwatch.
If they do, and if they read this, then Stockwatch's database shows that Mr. Said participated in 34 companies and Mr. Bharti participaced in 136.
Posted by halcrow at 2026-04-13 19:33
Russia educated also during commie days? Brought alotta new money into Canada via stock plays, the best had to be the Quebec Iron later taken over for alotta cash, was he also in the big lithium play rodinia that had all the lithium deposits world wide, the majority of which became lithim mines after the company was delisted and lost the assets and during the 2nd lithium rush?
Posted by oh at 2026-04-14 00:37