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by Mike Caswell

The B.C. Securities Commission has fined Ahmad Doroudian, the chief executive officer of Betterlife Pharma Inc., for failing to properly report $986,398 worth of insider trades. The BCSC claims that Mr. Doroudian overlooked his obligation to file the reports, all 624 of them, over a period of 4-1/2 years. For most of that period, he was a 10-per-cent shareholder and an officer of Betterlife, the BCSC says.

The fine for Mr. Doroudian is contained in a notice that the BCSC released on Wednesday, May 21. The regulator has ordered Mr. Doroudian to pay an administrative penalty of $50,000, which is in addition to $23,050 that he owes in late fees for his insider filings. The fine is one handed down as part of an administrative process that does not involve a full hearing, but does allow Mr. Doroudian the opportunity to dispute the matter, should he choose.

The case arises from trades that Mr. Doroudian made, starting in March, 2019. At the time, he was not yet an officer of Betterlife, but he did hold more than 10 per cent of its shares (and was thus required to report his trades), the BCSC says. According to Wednesday's notice, Mr. Doroudian executed 624 trades that involved 5,098,795 shares over the following 4-1/2 years. The trades had a total value of $986,398.

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