A British Columbia Securities Commission (BCSC) panel has fined and permanently banned a blog writer from the province’s capital markets for fraud and trading and advising without registration, the regulator announced on Wednesday.

B.C. resident Noshad Dowlati operated a blog and a Twitter account that gave general investment advice about publicly listed stocks.

The panel found that Dowlati committed fraud: by diverting $1,000 of the $10,000 that was given to him by an investor for personal use; and by failing to inform the investor that he had lost, or spent, all of the original stake when the investor gave him an additional $5,000 to invest.

The panel also found that Dowlati traded without registration when he made investment decisions on the investor’s behalf, and generated commissions on the returns those investments delivered.

Because Dowlati did not participate in the hearing and was not represented by counsel, the panel proceeded straight to sanctions. It ordered that he pay to the commission the $14,050 obtained as a result of his misconduct, an administrative penalty of $30,000, and that he be permanently banned from the markets.

The investor has also obtained a court order against Dowlati requiring him to pay $15,600, the panel noted, and has recovered $950 through garnishment proceedings.

Although the BCSC sought a $65,000 penalty, the panel ordered a lower sanction. “In the circumstances of this case, an administrative penalty of $30,000 is warranted,” the panel wrote. “It significantly exceeds the amount of the fraud and enrichment and reflects the seriousness of Dowlati’s misconduct and other factors relevant to sanction, making it appropriate for Dowlati personally. Further, it serves as a meaningful and substantial general deterrent to others from engaging in similar misconduct.”