Posted elsewhere: "The final judgment against
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Posted On: 03/22/2018 10:55:45 AM
Posted elsewhere:
"The final judgment against Bordynuik permanently enjoined him from violating Section 17(a) of the Securities Act and Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5, 13a-14, 13b2-1 and 13b2-2 thereunder, and from aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(
of the Exchange Act and Rules 12b-20, 13a-1, and 13a-11, and ordered him to pay a civil penalty of $110,000. Bordynuik also was barred for five years (from March 18, 2013) from acting as an officer or director of a public company."
I would almost put odds on Mr. Bordynuik asking the judge whether the five year restriction was only on being an officer/director or if that time limit also applied to his restriction on being able to violate the Securities Act rules.
Mr. Bordynuik was also charged with fraud by Canada's OSC and, if I remember, they also placed an officer and director ban on him for five years which might extend past than the SEC's ban. For shareholders hoping the embattled fraudster will come back and pump the stock, they could have to wait a while longer.
"The final judgment against Bordynuik permanently enjoined him from violating Section 17(a) of the Securities Act and Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5, 13a-14, 13b2-1 and 13b2-2 thereunder, and from aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(
of the Exchange Act and Rules 12b-20, 13a-1, and 13a-11, and ordered him to pay a civil penalty of $110,000. Bordynuik also was barred for five years (from March 18, 2013) from acting as an officer or director of a public company." I would almost put odds on Mr. Bordynuik asking the judge whether the five year restriction was only on being an officer/director or if that time limit also applied to his restriction on being able to violate the Securities Act rules.
Mr. Bordynuik was also charged with fraud by Canada's OSC and, if I remember, they also placed an officer and director ban on him for five years which might extend past than the SEC's ban. For shareholders hoping the embattled fraudster will come back and pump the stock, they could have to wait a while longer.
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