SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : SLJB - Sulja Brothers Building Supply, Inc.
SLJB 0.000010000.0%Nov 7 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: scion who wrote (1295)1/2/2007 8:16:33 AM
From: scion  Read Replies (3) of 1681
 
7. From or about September 2004 to August 2005, Vucicevich set up trading accounts at two Canadian discount brokers using employees of Kore and/or members of the Sulja family as nominees (the “Nominee Accounts”).

8. Between August 2006 and November 2006, Vucicevich and DeVries directed trading in the Nominee Accounts as follows: Sulja Nevada shares were received in large quantities into the Nominee Accounts by journal entry from Transfer Online, a transfer agent in Portland, Oregon, and were thereafter sold from the Nominee Accounts. Vucicevich and De Vries instructed the account holders of the Nominee Accounts when to trade, at what price to trade, and how many shares to trade at a given price.

9. The shares were received into the Nominee Accounts from Sulja Nevada’s treasury either directly or through Kore. In both circumstances, the trading constituted a distribution which requires in each instance the issuance of a prospectus receipt by the Commission for the securities of Sulja Nevada or a proper exemption under Ontario securities law. No such receipt has been issued nor have the Respondents demonstrated the existence of a proper exemption from the requirement, contrary to section 53 of the Act.

10. Within the Nominee Accounts, the effect of the trading in securities of Sulja Nevada as directed by Vucicevich and DeVries and as facilitated by Sulja Bros. and Kore, was to maintain a certain share price in Sulja Nevada, resulting in a misleading appearance of trading activity and an artificial price level for the shares of Sulja Nevada in breach of section 126.1 of the Act.

11. The proceeds of the trading in securities of Sulja Bros. from the Nominee Accounts as described above are approximately $7.8 million (US).

osc.gov.on.ca
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News