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BCSC wins decision on Bridgemark group asset freeze

2021-07-28 20:32 ET - Street Wire

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by Mike Caswell

A judge in the Supreme Court of British Columbia has upheld the constitutionality of asset freeze orders that the B.C. Securities Commission imposed in its case against the Bridgemark Financial Corp. group, which the regulator is pursuing over improper share issuances in a handful of Canadian Securities Exchange listings. Members of the group had complained that BCSC asset freezes infringe on an individual's expectation of privacy. The judge, however, has determined that there is no such expectation with the asset freezes at issue.

The finding comes as part of a case that the BCSC has been pursuing against local promoter Anthony Jackson and others since November, 2018. The regulator claims that the group ran a six-month scheme involving private placements in a group of CSE listings. The scheme, as set out by the BCSC, included the improper issuance of $50.8-million worth of shares between February and August, 2018, in supposed consulting fees.

So far, the case has been bogged down in legal process, with the matter requiring the BCSC to issue nine interim decisions and seven orders. The matter has also required trips to court more than once, which is unusual for BCSC actions. The main event in the case, the BCSC's hearing, is not planned to start until November, 2022, a full four years after the regulator first published the allegations.

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thanks Mike for keeping this in the news only 4 of 49 weasels left to prosecute is unfortunate. going to the BC supreme court aint cheap , bummer boys! well at least the jackson gang can show the next set of bad boys that 'privacy' isnt an argument

Posted by david at 2021-07-29 13:14

thanks Mike for keeping this in the news only 4 of 49 weasels left to prosecute is unfortunate. going to the BC supreme court aint cheap , bummer boys! well at least the jackson gang can show the next set of bad boys that 'privacy' isnt an argument

Posted by david at 2021-07-29 13:14