05:16:06 EDT Tue 26 Sep 2023
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BCSC bans former Blok CEO Dawson for 14 years

2023-06-08 20:45 ET - Street Wire

Also Street Wire (C-BLK) Blok Technologies Inc

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by Mike Caswell

The B.C. Securities Commission has banned Vancouver's Robert Earle Dawson for 14 years, citing him for misleading investors in Blok Technologies Inc., a now-former Canadian Securities Exchange listing for which he served as chief executive officer. The BCSC said that Mr. Dawson's company claimed to have raised money to advance its business, which was blockchain technology. The company failed to disclose that it would only retain a small portion of the money, as it had already committed nearly all of the cash to consultants.

The ban for Mr. Dawson is contained in a brief administrative order and related settlement agreement dated May 31, 2023. The order bars Mr. Dawson from serving as an officer or director of any reporting company for 14 years and from "advising or otherwise acting in a management or consultative capacity in connection with activities in the securities or derivatives markets." Mr. Dawson must also pay $25,000. As its title suggests, the settlement represents a negotiated deal, in which Mr. Dawson has accepted the ban to settle the case.

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