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BCSC collects Dabney's fine, 13 years later

2018-09-13 09:54 ET - Street Wire

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by Mike Caswell

It took nearly 13 years, but the B.C. Securities Commission has finally collected the $30,000 fine that it imposed on Vancouver's Raymond C. Dabney. The BCSC had cited him for several misleading news releases issued by Xraymedia Inc., which was once listed on the OTC Bulletin Board. To settle the case, he agreed to a five-year ban and to pay $30,000, but until now he had not paid the fine.

It is not entirely clear why Mr. Dabney has finally paid the BCSC. It could, however, have something to do with collection efforts that the BCSC undertook earlier this year in the Supreme Court of British Columbia. On Jan. 5, 2018, the regulator filed a case in which it sought a court order for the unpaid amount, plus interest. A court order would have enabled the BCSC to pursue any assets that Mr. Dabney held, such as real estate or shares.

Raymond Dabney
Raymond Dabney

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