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by Mike Caswell

The B.C. Securities Commission has imposed a 12-year ban on Glenn Albert Little, one of many individuals the regulator cited for improper share issuances involving Canadian Securities Exchange listings. The BCSC said that Mr. Little's part in the scheme involved misleading investors of Green 2 Blue Energy Corp., a company for which he served as a director. According to the BCSC, Green 2 Blue told investors that it had raised $4.2-million while failing to tell them that it would only keep $556,340 of the money.

The ban for Mr. Little, a resident of Langley, is contained in a settlement agreement that the BCSC released on Thursday, May 23. The ban prohibits him from serving as an officer or director and from working in a management or consulting position in connection with the securities industry. The settlement also requires that he resign any position that he holds as an officer or director.

The case against Mr. Little is one of many that the BCSC has been pursuing as part of a larger scheme that involved multiple CSE listings. According to the BCSC, a group of supposed consultants approached CSE companies and offered to subscribe to private placements. As part of the deal, the companies would have to agree to pay much of the proceeds from the private placements out as consulting fees, the BCSC says. The end result was that the consultants received most of their money back along with tradable shares, which they sold shortly after receiving them, according to the BCSC.

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