Whose shares were they?!?!?! Oh for the love of
Post# of 43064
Posted On: 07/08/2014 4:56:25 PM
Re: HeptoCloud #10503
Whose shares were they?!?!?! Oh for the love of god...
Under Part III of the Agreed Facts between Bordynuik and the OSC, which is there for everyone to read, and has been posted several thousands of times:
12. While Bordynuik was raising funds on behalf of JBI, he established a trust for the benefit of his two minor children (the “Childrens’ Trust”), which was subject to a formal trust agreement.
13. Bordynuik caused shares of JBI or John Bordynuik Inc. to be irrevocably settled on his mother as trustee of the Childrens’ Trust. The Childrens’ Trust held those shares in a securities account at RBC Dominion Securities (“DS”).
14. Having irrevocably settled JBI shares in trust Bordynuik then directed his mother as trustee to transfer the shares out of the trust account at DS to a number of transferees whom he designated, contrary to the terms of the formal agreement governing the Childrens’ Trust.
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties.
16. Bordynuik used the Childrens’ Trust in part as a reservoir of JBI shares which could be distributed to others, including Bespoke Growth Partners, in aid of acquiring a listing on the AMEX or NASDAQ exchanges. Bordynuik’s misuse of the Childrens’ Trust for this purpose was conduct contrary to the public interest.
http://www.osc.gov.on.ca/documents/en/Proceed...nuikjw.pdf
Under Part III of the Agreed Facts between Bordynuik and the OSC, which is there for everyone to read, and has been posted several thousands of times:
12. While Bordynuik was raising funds on behalf of JBI, he established a trust for the benefit of his two minor children (the “Childrens’ Trust”), which was subject to a formal trust agreement.
13. Bordynuik caused shares of JBI or John Bordynuik Inc. to be irrevocably settled on his mother as trustee of the Childrens’ Trust. The Childrens’ Trust held those shares in a securities account at RBC Dominion Securities (“DS”).
14. Having irrevocably settled JBI shares in trust Bordynuik then directed his mother as trustee to transfer the shares out of the trust account at DS to a number of transferees whom he designated, contrary to the terms of the formal agreement governing the Childrens’ Trust.
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties.
16. Bordynuik used the Childrens’ Trust in part as a reservoir of JBI shares which could be distributed to others, including Bespoke Growth Partners, in aid of acquiring a listing on the AMEX or NASDAQ exchanges. Bordynuik’s misuse of the Childrens’ Trust for this purpose was conduct contrary to the public interest.
http://www.osc.gov.on.ca/documents/en/Proceed...nuikjw.pdf
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