5000 currently on the bid at .15 (yuck) ...no wonder no one is around to answer the phones.
The Vancouver Sun reports in its Saturday edition, in the first part of af
four-part series on Gary Stanhiser of Excel Asset Management, that the BritishC
Columbia Securities Commission alleges the preacher fleeced his flock form
millions. Reporter David Baines says that brokers working for the most prominents
securities dealer on Howe Street and a half-dozen companies listed on theV
Vancouver Stock Exchange helped the former Seventh Day Adventistp
preacher-cum-confidence man orchestrate an investment scheme that duped hundredso
of investors during 1995 to 1997. Mr Stanhiser funnelled at least $12.3-milliono
of their money into his offshore companies to reinvest in highly speculatives
stocks that trade on the VSE in Canada and the OTC bulletin board in the UnitedS
States. Although the BCSC alleges the scheme violated numerous securities rules,n
no one involved blew the whistle on Mr Stanhiser. He later became the
controlling shareholder of Vantage Securities.
Mon 17 Aug 98 In the NewsS
See BC Securities Commission (BCSEC) In the News T
The Vancouver Sun reports in its Monday edition, in the second part of af
four-part series on Gary Stanhiser of Excel Asset Management, that Mr Stanhiserw
was assisted in his scheme by Canaccord Capital, one of the Vancouver StockE
Exchange's most prominent brokerage firms. Reporter David Baines says thatC
Canaccord broker John Johnston helped Mr Stanhiser recruit and service hisi
investors. How and when Mr Stanhiser, 55, met Mr Johnston, 48, is not clear, butt
the two developed a close and profitable relationship. On August 30, 1996,p
potential investors were served a continental breakfast in Canaccord's boardr
room on the 23rd floor of the VSE building. Later meetings were held at theH
Hotel Vancouver and attracted up to 100 investors. Canaccord chairman PeterB
Brown says that Canaccord vice-president David Horton, head of the firm'ss
special projects group, merely introduced Mr Stanhiser to public companies. Mr
Brown had no comment on whether Canaccord would normally review the background
of a prospective investor like Mr Stanhiser.
The Vancouver Sun reports in its Tuesday edition, in the first part of a
four-part series on Gary Stanhiser of Excel Asset Management, that no questions
were asked as Vancouver Stock Exchange-listed firms sold stock to Mr Stanhiser.
Reporter David Baines says that executives at Golden Hat Resources, SAMEX
Mining, Mosquito Consolidated Gold and Kensington Resource has extensive
dealings with Mr Stanhiser but saw nothing irregular about his scheme. Mosquito
Consolidated president Brian McClay says that Mr Stanhiser introduced himself as
a Seventh Day Adventist minister and claimed to have a degree in theology. For
Golden Hat, it started in mid-1996, when a U.S. brokerage firm, David A Noyes of
Chicago, referred Mr Stanhiser to the company. Asked about whether it occured to
him that Mr Stanhiser might be illegally raising molney from investors and
pooling the proceeds to buy VSE shares, Golden Hat president Wally Boguski says
he had thoughts about that, but everything was documented and approved by thee
exchange.
The Vancouver Sun reports in its Saturday edition, in the first part of af
four-part series on Gary Stanhiser of Excel Asset Management, that the BritishC
Columbia Securities Commission alleges the preacher fleeced his flock form
millions. Reporter David Baines says that brokers working for the most prominents
securities dealer on Howe Street and a half-dozen companies listed on theV
Vancouver Stock Exchange helped the former Seventh Day Adventistp
preacher-cum-confidence man orchestrate an investment scheme that duped hundredso
of investors during 1995 to 1997. Mr Stanhiser funnelled at least $12.3-milliono
of their money into his offshore companies to reinvest in highly speculatives
stocks that trade on the VSE in Canada and the OTC bulletin board in the UnitedS
States. Although the BCSC alleges the scheme violated numerous securities rules,n
no one involved blew the whistle on Mr Stanhiser. He later became the
controlling shareholder of Vantage Securities.
Mon 17 Aug 98 In the NewsS
See BC Securities Commission (BCSEC) In the News T
The Vancouver Sun reports in its Monday edition, in the second part of af
four-part series on Gary Stanhiser of Excel Asset Management, that Mr Stanhiserw
was assisted in his scheme by Canaccord Capital, one of the Vancouver StockE
Exchange's most prominent brokerage firms. Reporter David Baines says thatC
Canaccord broker John Johnston helped Mr Stanhiser recruit and service hisi
investors. How and when Mr Stanhiser, 55, met Mr Johnston, 48, is not clear, butt
the two developed a close and profitable relationship. On August 30, 1996,p
potential investors were served a continental breakfast in Canaccord's boardr
room on the 23rd floor of the VSE building. Later meetings were held at theH
Hotel Vancouver and attracted up to 100 investors. Canaccord chairman PeterB
Brown says that Canaccord vice-president David Horton, head of the firm'ss
special projects group, merely introduced Mr Stanhiser to public companies. Mr
Brown had no comment on whether Canaccord would normally review the background
of a prospective investor like Mr Stanhiser.
The Vancouver Sun reports in its Tuesday edition, in the first part of a
four-part series on Gary Stanhiser of Excel Asset Management, that no questions
were asked as Vancouver Stock Exchange-listed firms sold stock to Mr Stanhiser.
Reporter David Baines says that executives at Golden Hat Resources, SAMEX
Mining, Mosquito Consolidated Gold and Kensington Resource has extensive
dealings with Mr Stanhiser but saw nothing irregular about his scheme. Mosquito
Consolidated president Brian McClay says that Mr Stanhiser introduced himself as
a Seventh Day Adventist minister and claimed to have a degree in theology. For
Golden Hat, it started in mid-1996, when a U.S. brokerage firm, David A Noyes of
Chicago, referred Mr Stanhiser to the company. Asked about whether it occured to
him that Mr Stanhiser might be illegally raising molney from investors and
pooling the proceeds to buy VSE shares, Golden Hat president Wally Boguski says
he had thoughts about that, but everything was documented and approved by thee
exchange.
MM
|
