British Columbia Securities Commission

British Columbia Securities Commission

December 21, 2011 14:15 ET

BCSC Panel Finds That Richmond Man Illegally Sold Shares in U.S. Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2011) - A British Columbia Securities Commission panel has found that a Richmond, B.C. man broke securities laws when he sold securities for a U.S. company.

Donald Verne Dyer raised money for Global 8 Environmental Technologies Inc. through Pacific Ocean Resources Corporation, a Langley-based company that Dyer owns. Dyer is in the business of raising money for public companies, though neither Dyer nor his company are registered to sell securities in B.C.

Dyer raised over US $836,000 for Global 8 from 83 investors across Canada and the U.S. He never met any of the investors, but illegally telephoned them at their residences.

Global 8, a Nevada company quoted on the U.S. over-the-counter markets, has never filed a prospectus in B.C.

The panel directed the parties to make submissions on sanctions according to the schedule set out in the findings.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by typing Dyer, Pacific Ocean Resources Corporation or 2011 BCSECCOM 563 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.

Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).

If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).

Learn how to protect yourself and become a more informed investor at www.investright.org.

Contact Information

  • British Columbia Securities Commission
    Richard Gilhooley
    Media Relations
    604-899-6713 or (Canada) 1-800-373-6393
    www.bcsc.bc.ca