Suspicion of illegal transactions
Graham Wood/North Shore News – October 27, 2023 / 7:40pm | Story: 454363
Photo: Rob Klute.
The two are accused of violating B.C.’s securities laws.
The BC Securities Commission alleges two British Columbia residents used foreign and out-of-province entities to conduct unregistered transactions in the securities of two public companies whose names have not been released by regulators. ing.
Tajarim Mohamed of North Vancouver and Ali Ismail of Revelstoke did not have the necessary registration exemptions to solicit a deal worth approximately $12.2 million, and in return received just over $1 million in finder’s fees. received, the commission said in a notice of hearing signed by the executive director. Peter Brady, October 24th.
Mohamed entered into a finders fee agreement with “Issuer A” and “Issuer B”, a company registered in Hong Kong, Lacie Holdings Ltd and Space Cloud Empire Limited (previously known as CE Star Holdings Limited). ) is said to have been used.
Mr. Ismail used Alberta-registered NH Transcendental Business Solutions Inc. and federally-registered Green Stream Botanicals Corp. in his business partnership with Mr. Mohamed.
“Mr. Mohamed, directly and through Lacey and CE Star, and Mr. Ismail, directly and through NHT and GSB, are involved in the issuer A and engaged in acts that facilitated trading in the securities of B,” the Commission said.
In 2018, Mr. Mohamed received approximately $758,000 for trading and related activities and Mr. Ismail received approximately $283,000.
The commission said both men are suspected of violating the BC Securities Act, and a hearing date will be set for Dec. 13. These allegations remain unproven unless and until proven by the Commission.