BCSC panel fines and permanently bans B.C. man for investment fraud

Supported By:

Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

A British Columbia Securities Commission (BCSC) panel has permanently banned a B.C. resident from B.C.’s capital markets for fraud. Ayaz Dhanani fraudulently raised a total of $188,800 from three investors in exchange for promises to purchase shares in three resource companies that Dhanani claimed were about to go public. 

Promise that investment would increase significantly 

Dhanani (aka Azim Virani, Michael Lee, Alex Nebris, Paul Dhanani, Samuel Ramos, and Rahim Jiwa) promised each investor that their investments would increase significantly in value over a short period of time. No securities were ever purchased with the investors’ money. He has been ordered to pay a disgorgement order of $188,800 and an administrative penalty of $225,000. Dhanani must also resign any position he holds as a director or officer of any issuer or registrant.

Read more at Newswire.

This article is summarized by Canadian Fraud News Inc.