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SEC defendant Carrillo's BMW buy lands ex-wife in court

2022-11-18 20:43 ET - Street Wire

Also Street Wire (U-ARSN) Aureus Inc

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by Mike Caswell

In an unusual aside to its case against former San Diego securities lawyer Luis Carrillo, the U.S. Securities and Exchange Commission has won a judgment against Mr. Carrillo's ex-wife over a $134,500 BMW that he bought for her. (All figures are in U.S. dollars.) The purchase of the vehicle by Mr. Carrillo formed part of his separation agreement. Unfortunately for his ex-wife, Mr. Carrillo bought the BMW by wiring money from an offshore account that allegedly held proceeds of his stock market schemes.

The judgment comes as part of a case in which the SEC cited Mr. Carrillo, who has many Vancouver connections, for the promotion of a supposed gold explorer called Aureus Inc. in 2016. The SEC claimed that he and others, including B.C. resident Amar Bahadoorsingh, were behind a scheme to unload millions of improperly issued shares during a promotional campaign. The SEC said that Mr. Carrillo's part in the scheme included hiring a boiler room in Colombia that boosted the stock as it went to a $1.66 high.

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