07:46:16 EDT Fri 02 Jun 2023
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SEC defendant Dove avoids fine, for now

2023-02-06 20:45 ET - Street Wire

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by Mike Caswell

A New York judge has declined, for now at least, to impose any fines or other sanctions against Canadian Raymond Dove for his part in a Colombian boiler room. The U.S. Securities and Exchange Commission claimed that Mr. Dove, along with Vancouver's Frank Biller, helped hidden insiders unload millions of shares. Their scheme generated $58.3-million in illegal gains, according to the SEC. (All figures are in U.S. dollars.)

There has yet to be a trial in the case, with the defendants having ignored the matter so far. As a result, the SEC had asked the judge to impose fines and other sanctions against Mr. Dove totalling $5.93-million. The penalties would have been by default, as Mr. Dove had not responded to the case, despite being served.

The judge, however, has declined to impose those sanctions. The reasons are found in a ruling handed on Monday, Feb. 6, in federal court in New York. The denial is rooted in the SEC's failure to proceed against another defendant, Mr. Biller. If the judge were to impose fines and other penalties against Mr. Dove, the case would have been effectively decided in the SEC's favour. There would still be a chance that Mr. Biller could successfully defend the case, however. Should that happen, the judge would then be in a position of having to make different findings against two defendants for the same "inextricably intertwined" events.

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Frank Biller`s brother Justin Biller works for Schell Lumber in Stouffville, On 905 640 3440. He would know where Frank is for sure whether he would cooperate is another thing ?

Posted by Jeremey at 2023-02-07 14:42

This is his wife on Facebook Patricia Biller Sepulveda. The latter surname is hers.

Posted by Jeremey at 2023-02-07 15:01

Jusiin most likely knows the where about of Dove as well !

Posted by Paul at 2023-02-09 11:47

What scum targeting seniors absolute scum if they get charged criminally convicted and sentenced to jail time I hope it is exposed what they did and the cowards are handled by the inmate population. They are pure COWARDS.

Posted by Roberto at 2023-02-10 13:51