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by Mike Caswell

The Alberta Securities Commission has permanently banned Benjamin Daniel Koorbatoff, a central Alberta man who carried out a fraud with shares of CableClix (USA) Inc. in 2015. The ASC says that Mr. Koorbatoff forged share certificates and made misrepresentations to an investor. His "carefully and elaborately planned" scheme resulted in the investor losing $800,000, the ASC says.

The ban for Mr. Koorbatoff is contained in a decision released on Monday, June 3. The case arises from shares in CableClix, an OTC Pink listing that claimed to be "a leading provider of high definition streaming television over broadband connections." The company was previously a B.C. junior metals explorer known as Gold Rock Resources Inc.

Mr. Koorbatoff's fraud, as set out by the ASC, began in the spring of 2015, when he told an acquaintance that he indirectly owned eight million shares of CableClix. He offered to sell those shares to the acquaintance for $800,000. He said that, for tax reasons, the transaction would have to be run through two offshore holding companies, the decision states. The idea, as set out by the ASC, was that Mr. Koorbatoff would transfer the shares to the holding companies and then transfer control of those companies.

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