Aug. 11, 2021 – U.S. securities regulators are alleging that a Vancouver, B.C. resident orchestrated a series of stock fraud schemes that took hundreds of millions of dollars from investors.

The U.S. Securities and Exchange Commission (SEC) filed an emergency action in a federal district court in Boston charging nine people, including several residents of Canada, over their alleged participation in long-running stock fraud schemes that “caused significant harm” to retail investors in the U.S. and around the world.

In a complaint that was unsealed Monday, the SEC alleged that Vancouver resident Frederick Sharp “masterminded a complex scheme from 2011 to 2019” that allowed the controlling shareholders of microcap companies to conceal their holdings and then secretly dump their stock into U.S. markets. Investment Executive reports. | READ MORE