BCSC sanctions unregistered trading

The British Columbia Securities Commission (BCSC) settled with a North Vancouver man, who admitted to helping a pair of companies raise about $12 million from investors, without being registered.

In a settlement with the regulator, Tajkarim Mohamed admitted that he violated securities rules by facilitating 66 securities distributions on behalf of a pair of related issuers between January 2018 and June 2020.

According to the settlement, the issuers paid him, and his Hong Kong-based companies — Lacie Holdings Ltd. and CE Star Holdings Ltd. — $111,000 in cash and almost $650,000 in stock as finder’s fees for introducing investors to the issuers.

“Mohamed, directly and through Lacie and CE Star, engaged in acts in furtherance of trades of securities of the issuers including by referring prospective investors, facilitating investments and acting as an intermediary,” the settlement said.

Under the settlement, Mohamed was banned for four years, and ordered to pay $135,000 to the BCSC. He also returned the shares he received to the issuers.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.