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BCSC pares back case against Jackson et al.

2021-04-29 20:37 ET - Street Wire

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by Mike Caswell

The B.C. Securities Commission has scaled back its proceedings against Anthony Jackson and others over improper share issuances carried out in several Canadian Securities Exchange companies in 2018, with the matter now limited to Mr. Jackson and three others. In an amended hearing notice issued on Thursday, April 29, the BCSC claims that the group improperly obtained millions of tradable shares. The scheme amounted to conduct that was contrary to the public interest, the BCSC says.

Besides Mr. Jackson, those named in Thursday's amended hearing notice include Justin Liu, Robert John Lawrence and Cameron Robert Paddock. Also named are several private entities associated with the four men. The amendment leaves the case with 10 respondents, down from the 49 named when the BCSC filed the original hearing notice on Nov. 26, 2018.

The allegations in the amended notice remain largely unchanged, with the BCSC accusing the men of participating in a six-month scheme involving private placements in a group of CSE listings. The scheme, as set out by the BCSC, included the issuance of $50.8-million worth of shares between February and August, 2018. Supposed consultants, who did little or no work, acquired the shares in private placements.

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