The U.S. Securities and Exchange Commission is continuing its dogged legal pursuit to take back tens of millions of dollars from British Columbians who took part in a $1 billion dollar stock fraud scheme orchestrated out of Vancouver between 2011 and 2019.
The commission filed a civil claim in B.C. Supreme Court June 10 against six B.C. residents who have been ordered, via U.S. federal court judgments, to pay back more than US$50.9 million (CAD$72.1 million) of illicit profits to American investors.
The commission is seeking approval from the Canadian court for recognition and enforcement of the U.S. judgements via the Foreign Money Claims Act.
The claim comes after a
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