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SEC charges Vancouver's Reagh for OTC pump-and-dump

2022-12-05 20:48 ET - Street Wire

Also Street Wire (U-UPPR) Upper Street Marketing Inc

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by Mike Caswell

The U.S. Securities and Exchange Commission has filed civil fraud charges against Vancouver's Barry Reagh and others for the 2019 pump-and-dump of a supposed cannabis listing on the OTC Markets. The SEC claims that Mr. Reagh, a Vancouver broker in the 1990s, was part of a group that carried out a paid promotion of Upper Street Marketing Inc., with the men realizing $1-million in proceeds from the scheme. (All figures are in U.S. dollars.) The SEC is seeking a permanent ban, among other penalties, for Mr. Reagh.

The allegations are contained in a civil complaint that the SEC released on Monday, Dec. 5. The complaint identifies Mr. Reagh, 59, as a resident of Surrey, B.C., and Scottsdale, Ariz. The SEC also identifies one of his relatives, D.R., as a "relevant individual" (and not a defendant), claiming that the relative held shares on Mr. Reagh's behalf.

The scheme, as set out by the SEC, began in 2018, when one of Mr. Reagh's co-accused, a Missouri resident named Joseph Earle, was looking to take a cannabis company public. To that end, he came into contact with Mr. Reagh and others who controlled Upper Street Marketing, the SEC claims. The men struck an agreement on Oct. 1, 2018, in which they would take Mr. Earle's company public and, according to the SEC, would use it as the vehicle for a pump-and-dump.

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That $444,000 is likely still outstanding?

Posted by halcrow at 2022-12-06 11:45

That was an easy question to answer

GRANT ROBERTSON AND TOM CARDOSO PUBLISHED DECEMBER 22, 2017

EASY MONEY $1,101,583,984.44 That's the amount of unpaid securities fines in Canada, a Globe investigation has determined. Regulators mete out $100-million in new fines each year to generate tough-on-crime headlines – but collect no more than a fraction, Grant Robertson and Tom Cardoso report

https://www.theglobeandmail.com/news/investigations/billion-dollars-unpaid-fines-white-collar-crime/article37416140/

Posted by halcrow at 2022-12-06 11:48

New York stock exchanges are the definite SCAM CAPITAL OF THE WORLD. Must be over 1000 NEW YORK listed scammers posted here the last year. New York scam capital of the world used scam media, listed on New York exchange by the way, to call Vancouver scam capital of the world. Vancouver city should sue New York City and the New York exchanges.

Posted by billy at 2022-12-06 12:43

weed from $70's to $5, tilray from $100's down to $5...quadrillions of wealth redistributed and ruined lives with disclosures that were not allowed since 1980's in mining industry... 600,000sqft facility approved and licenced to grow... scam scam scams ...

Posted by hillbilly at 2022-12-06 15:24