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by Mike Caswell

The U.S. Securities and Exchange Commission has permanently banned U.K. national Trevor Page, who was part of a $12-million manipulation scheme run in part through Vancouver. (All figures are in U.S. dollars.) The SEC said that the scheme, which ran for a three-year period, involved four listings on the OTC Markets. Mr. Page and others illegally sold shares using private entities controlled by Vancouver's Steve Bajic and another Canadian, Rajesh Taneja, the SEC claimed.

The ban for Mr. Page is contained in a proposed judgment filed on Monday, April 14, in federal court in New York. The judgment permanently bars Mr. Page from penny stocks and includes terms barring future violations. The judgment does not specify any financial penalties, leaving those for the judge to determine. Mr. Page has agreed to the ban as part of a settlement with the SEC.

The ban will form just part of Mr. Page's punishment for the scheme, as he recently pleaded guilty to related criminal charges in New York. He awaits sentencing on those charges. That criminal case includes a second defendant, who prosecutors have yet to publicly identify.

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