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by Mike Caswell

The Canadian Investment Regulatory Organization has begun proceedings against Research Capital Corp. employee Tumer Bahcheli, citing him for off-book transactions that involved a newly formed public company that became TSX Venture Exchange listing D2 Lithium Corp. According to CIRO, Mr. Bahcheli facilitated the transfer of shares to family members using an offshore third party and gave directions to D2's officers. He hid his activities from Research Capital, an action that "breached the standards of conduct required for a Registered Representative," CIRO says.

The allegations are contained in a relatively brief notice of hearing that CIRO released on Wednesday, May 27. The case stems from the 2022 formation of a lithium brine company that is now D2 Lithium, which still trades on the TSX-V. CIRO claims that Mr. Bahcheli took part in a series of off-book transactions involving clients and relatives as the "corporate dealings" that created D2 were under way.

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