A B.C. man has been permanently banned from the province's investment market.

In a , BC Securities Commission explains the permanent prohibition B次元官网网址� which took affect Monday (Feb. 24) B次元官网网址� for Amar Bahadoorsingh was implemented after a U.S. court found Bahadoorsingh liable for "fraud, misrepresentation, offering unregistered securities and failing to disclose his ownership of more than five per cent of a class of certain securities."

The finding was made by a federal court in Boston in two separate cases, in 2022 and 2023, the release explains.

According to the release, the U.S. Securities and Exchange Commission (SEC) alleged that Bahadoorsingh and others secretly gained control of several companies, in one case selling shares to unsuspecting investors to "generate substantial illicit profits." 

"In another case, Bahadoorsingh and others clandestinely sold their stakes in a company that they had promoted to retail investors," the release continues.

Default judgments were granted in both cases, the release notes, with Bahadoorsingh ordered to pay $1.4 million and "barred from participating in the offering of a penny stock and participating in the issuance, purchase, offer or sale of any security, except those listed on a U.S. national exchange for his own personal account."

In the  B次元官网网址� which states Bahadoorsingh was named as a defendant in U.S. SEC complaints that were filed in April 2021 and December 2021 B次元官网网址� the commission's executive director is noted as having described Bahadoorsingh's south-of-the-border misconduct as "deceitful and unscrupulous." During oral submissions heard Nov. 4, 2024, the official also provided affidavit evidence that Bahadoorsingh listed White Rock as his residence on a driver's licence as of December 2023, the decision states.

Other activities covered by the BCSC ban include trading in or purchasing the majority of securities or derivatives; advising or acting in a management or consultative capacity; and relying on any exemptions in the Securities Act.

The release notes Bahadoorsingh did not attend or participate in the U.S. proceedings.

According to the BCSC decision document, Bahadoorsingh argued at the Nov. 4 proceeding that a lifetime market ban "would be a substantial blow to his professional career and income earning potential.B次元官网网址�