White Rock man fined $15,000 for illegal securities trading
Credit to Author: Scott Brown| Date: Tue, 07 Jan 2020 18:24:33 +0000
A White Rock man has been ordered to pay $15,000 for trading in securities while under suspension by the B.C. Securities Commission.
Back in 2013, the BCSC fined Richard Gozdek $65,000 and banned him from participating in the province’s capital markets for five years after he was found guilty of selling $550,778 worth of partnership agreements to B.C. investors in a Nevada-based corporation called Armadillo, even though he was unregistered to sell securities.
In provincial court in Abbotsford on Dec. 23, Gozdek was sentenced to one year probation, fined $5,000 and ordered to pay $10,000 in restitution to the victim after pleading guilty to breaching the BCSC order by trading in securities.
Two other charges — acting in a consultative capacity in the securities market and engaging in investor-relations activities — were stayed.
Gozdek was charged in 2019 following an investigation by the BCSC’s Criminal Investigations Branch.