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by Mike Caswell
The U.S. Securities and Exchange Commission has permanently banned Jamie Wilson, a U.K. man who was part of "massive dump of shares" of Aureus Inc., a supposed gold explorer in Montana. The SEC claimed that he and others, including Vancouver's Amar Bahadoorsingh and Vancouver-linked lawyer Luis Carrillo, sold millions of shares of Aureus through a nominee. The sales came amidst a promotion that included a Colombian boiler room, the SEC said.
The ban for Mr. Wilson, 41, is contained in a proposed judgment filed on Tuesday, June 28, in federal court in Boston. The order represents a negotiated settlement, in which Mr. Wilson has accepted a penny stock ban, without admitting any wrongdoing. He has also agreed to pay a fine in an amount that the judge will determine. The sanctions remain subject to final approval from the judge.
The SEC said that Mr. Wilson helped Mr. Bahadoorsingh secretly take control of Aureus in 2016. Using a private U.K. entity that he controlled, he transferred millions of shares while failing to disclose that he and the others collectively controlled 81 per cent of the tradable stock, the SEC claimed. The men positioned their shares with offshore nominees ahead of the promotion, according to the SEC.
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