I said I would never post here again, but I pegged this guy when he started to dilute the chit outta this company...
Donner Minerals Ltd -
BCSEC cites David Patterson for insider trading
Donner Minerals Ltd DML
Shares issued 31,689,657 1999-12-20 close $0.12
Tuesday Dec 21 1999
See B.C. Securities Commission (BCSEC) News Release
Mr. Michael Bernard reports
The British Columbia Securities Commission is seeking to impose a trading ban and other administrative penalties and costs against David Michael Patterson for alleged insider trading and other securities violations.
In a hearing notice, commission staff maintain Mr. Patterson was an insider of reporting issuers in the province including Donner Minerals, Crazy Horse Industries Inc., Allied Strategies Inc., Zicor Mining Inc., Consolidated Valley Ventures Ltd. and Prairie Rose Resources Ltd.
The notice says Mr. Patterson established a trust in his own name and made himself, his wife, his daughter, his parents and his parents-in-law beneficiaries of the trust. Mr. Patterson directed the trustees to trade shares of the six companies through a British Virgin Islands-based company called Bray International Ltd.
The commission alleges that Mr. Patterson failed to file insider trading reports for the six companies. The notice also alleges that Mr. Patterson filed a private placement questionnaire with the Vancouver Stock Exchange that disclosed particulars of the trustee corporation but failed to disclose beneficial ownership of the shares of Bray, which the commission maintains is "contrary to the public interest."
No date has been set for the hearing but it is expected to commence next spring.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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