A Vancouver man who went by multiple names, has been remanded to custody facing a string of securities-related charges.
Ayaz Dhanani, also known as Michael Lee and Samuel Ramos is accused of fraud over $5,000 and failure to comply with terms of release on other outstanding charges, according to a media release from the B.C Securities Commission (BCSC).
Dhanani is also accused of trading in securities in breach of a Securities Commission order, and acting as an advisor without being registered, according to the regulator.
The BCSC said Dhanani was barred from buying or trading in securities or working in investor relations last December after he was found to have defrauded three B.C. investors of more than $188,000.
Dhanani was ordered to pay back all of that money, along with penalty of $225,000. However the BCSC said the initial repayment has only partially been made and everything else remains unpaid.
Lee was arrested on Oct. 2 following a BCSC investigation, and is currently in custody pending a bail hearing.
Read the full story over at Global Vancouver.
