ASC deems pair from B.C., Alta. liable for forex scheme
2025-10-10 19:59 ET - Street Wire
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by Mike Caswell
The Alberta Securities Commission has found a Grande Prairie car dealership employee and a Kelowna painter liable for a foreign exchange scheme that resulted in nearly $20-million in losses for investors. The ASC says that Alberta resident Glenn Hunter and B.C. resident Kyle Watters were behind an operation that pitched foreign exchange products to investors in three provinces. The operation did not have the proper registration and lost nearly all of the money that it raised, according to the ASC.
The finding against Mr. Hunter and Mr. Watters is contained in a decision that the ASC released on Thursday, Oct. 9. A three-member panel has found the men liable for the scheme, but has not yet determined their penalties. The men face possible bans and fines, along with disgorgement of their gains.
The scheme, as set out by the ASC, goes back to late 2021 and early 2022 when Mr. Hunter and Mr. Watters incorporated entities in B.C. and in the Caribbean country of St. Vincent and the Grenadines. They advertised themselves as a foreign exchange business, using the slogan "We work so you don't have to." According to the ASC, the men solicited investors in B.C., Alberta and Saskatchewan and offered to pay a fee of $500 for each new client referred to them.
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20 million raised from 200 people- those aren't stupid people. This was a crypto story?
needs to be some clarification. excuse my stupidity, but 20 million is real money, and real money making people do not fall for bullshit, that is an average of 100k per person.
please clarify the story, whether it was crypto or not. crypto concept was a very hard concept to launch then the success of it showed how difficult it was for regulators to clamp down- initially they were able to by ensuring credit cards would not let money be converted to crypto, then that went by the wayside.
Still hard to believe that US Fed reserve will let $1 billion or miraculous unprinted and non system money appear in accounts from conversion of b s crypto to US dollars, but again shows how stupid I am.
so these crypto genuises convinced 200 people to place 20 million dollars with them to trade.....?.....
Posted by oh at 2025-10-11 05:59
Sort of mirrors this Restructures whats an original $20 worth now? - HOU
Date Old Symbol Old Shares New Symbol New Shares
2021-07-02 HOU 1 HOU 3
2020-04-29 HOU 20 HOU 1
2020-03-23 HOU 10 HOU 1
2016-05-30 HOU 2 HOU 1
2015-11-26 HOU 2 HOU 1
2015-01-16 HOU 4 HOU 1
2014-11-24 HOU 2 HOU 1
2009-01-02 HOU 5 HOU 1
Posted by Dave at 2025-10-11 14:21
The formating of the HOU consolidations doesnt display very good, so I will give the example clearly These consolidation equate to a 10,666 to 1 ratio. That would mean that 1000 shares originally purchased on the inception of HOU for $20,000 when oil was $80 is now worth $1.87 This is not any different than these guys. Im not saying these guys are not guilty, Im saying others should be measured by the same yardstick. I fell victum to HOU scam and lost $30,000 I bought when oil was low $20's and sold at a loss as the price of oil had increased but the HOU price did not. In my opinion HOU is a skimming program... Ratcheting profits out to Horizion BP every day the after market and box trading pre market....JMHO The complementary trade HOD has only consolidated 8 to1... the charts dont lie!
Posted by dave at 2025-10-12 12:25
Yes consolidations are nasty. All the silver deals did not consolidate and are now back up in price. Lac des illes was in operation from 1984, the dudes kept raising money then consolidating, the first money the operation made back a few years ago they too $19.79 pay out by impala problem is as the share price all time high was over $4000, if they woulda kept the deal making money every year the shareholders would have had a chance.
If running a corp, never roll back, find a project or go find those guys who save deals that crumble without rolling back, they had the stocks go to $2 or higher a few times.
Posted by Oh at 2025-10-12 18:20