We are delighted to report that today the B.C. Securities Commission dismissed an allegation of fraud made against our client following an application for non-suit brought by his counsel, Joven Narwal and Angela Boldt, who successfully argued that there was no evidence upon which the Commission could prove its case.
Mr. Narwal, said after the successful verdict:
“We successfully argued that there was no evidence upon which the allegation against our client could be proven. Although [our client] has now been exonerated, fraud is a serious allegation that carries an enormous amount of stigma; he and his family have still suffered as a result of the public nature of the allegations and the ordeal of these proceedings. We hope that this decision will send a message to the enforcement division of the B.C. Securities Commission that they ought not to make serious allegations without backing it up with a proper evidentiary foundation.”
The panel of the B.C. Securities Commission dismissed the case against our client with written reasons for the decision to follow. The case remains ongoing with respect to the co-accused respondents.