A British Columbia Securities Commission panel has found that a Richmond, B.C. man broke securities laws when he sold securities for a U.S. company.
Donald Verne Dyer raised money for Global 8 Environmental Technologies Inc. through Pacific Ocean Resources Corporation, a Langley-based company that Dyer owns. Dyer is in the business of raising money for public companies, though neither Dyer nor his company are registered to sell securities in B.C.
Dyer raised more than US$836,000 for Global 8 from 83 investors across Canada and the U.S. He never met any of the investors, but illegally telephoned them at their residences.
Global 8, a Nevada company quoted on the U.S. over-the-counter markets, has never filed a prospectus in B.C.
Sanctions against Dyer are set to be determined at a future hearing.