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by Mike Caswell

The U.S. Securities and Exchange Commission has sought permission to expand its civil case against Vancouver's Harmel Singh Rayat over the promotion of Renovacare Inc., an OTC Markets listing with a supposed burn healing device called the "SkinGun." The SEC now says that the scheme included two other Vancouverites, naming them as Jatinder Bhogal and Jeetenderjit Singh Sidhu. According to the SEC, the group unloaded $7.5-million worth of stock amidst a misleading paid promotion. (All figures are in U.S. dollars.)

The request from the SEC comes as part of a case the regulator has been pursuing against Mr. Rayat for over a year. With the matter yet to go to a trial, the SEC has filed a motion seeking to expand the allegations. According to that motion, the SEC has uncovered evidence that the scheme included Mr. Bhogal and Mr. Sidhu along with a California woman, Sharon Fleming. The trio had roles that included unloading millions of dollars worth of shares, the SEC claims.

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