SEC imposes accountant ban on Vancouver's Drazenovic
2026-04-20 19:41 ET - Street Wire
Also Street Wire (U-VOIL) Virtus Oil and Gas Corp.
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by Mike Caswell
The U.S. Securities and Exchange Commission has barred Vancouver's George Drazenovic from working as an accountant for his part in pump-and-dump schemes run on the U.S. markets from 2010 to 2019. The SEC said that Mr. Drazenovic "recklessly furthered" the work of others, helping them run schemes that generated tens of millions of dollars in gains. Among those schemes was that of Virtus Oil & Gas Corp., which supposedly had a "U.S. Super-Field estimated to hold 3 TRILLION barrels of oil -- or nearly DOUBLE the world's proven oil reserves."
The ban for Mr. Drazenovic is contained in an administrative order that the SEC released on Monday, April 20. The order suspends him from appearing or practising as an accountant before the SEC. There is no time limit, which often means that the order will remain in effect until the SEC agrees to reverse it. The ban represents a negotiated settlement, in which Mr. Drazenovic has not admitted to any wrongdoing.
Monday's ban comes on top of $619,096 in other sanctions that Mr. Drazenovic previously accepted in a related civil case brought by the SEC. (All figures are in U.S. dollars.) In addition to the monetary amounts, Mr. Drazenovic agreed to serve a three-year ban from penny stocks and from serving as an officer or director. As with today's sanctions, Mr. Drazenovic did not admit to any wrongdoing in agreeing to the penalties.
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He never paid anyone. He seemed to get a euphoric thrill convincing someone to play along with his schemes. Was another like him who passed away in his condo back around same time, not related to same scammers.
Posted by oh at 2026-04-20 20:44
Mr. Drazenovic, meanwhile, has since taken a position as an associate professor. University Canada West, a business-oriented university with a campus in downtown Vancouver, listed him until recently as being in the Arts, Communications Social Sciences department. His biography on the university's website noted that he brought "business development, planning and securities regulatory expertise."
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26449 / December 19, 2025
"On December 18, 2025, the Securities and Exchange Commission filed a settled action as to George John Drazenovic, a Canadian citizen and British Columbia-licensed chartered professional accountant, alleging that he recklessly furthered two penny stock rings’ pump-and-dump frauds. Drazenovic consented to the entry of a judgment without admitting or denying the SEC’s allegations.
Posted by halcrow at 2026-04-20 20:59