The Alberta Securities Commission (ASC) has reciprocated the British Columbia Securities Commission’s (BCSC) ban against Daniel Scammell, Casper de Beer, VerifySmart Corp. and Verified Transactions Corp.

In May 2012, the B.C. regulator found that Scammell, de Beer (a.k.a. Casha de beer), VerifySmart (formerly Verified Capital Corp.) and Verified Transactions had traded and distributed securities without registration or a prospectus.

BCSC sanctions two men for illegally trading securities

As a result, on Wednesday an ASC panel ordered that all trading or purchasing in either of the two companies permanently cease. As well, Scammel and de Beer are banned from trading in or purchasing securities (with limited exceptions), becoming or acting as a registrant or promoter, acting in a management or consultative capacity in the securities markets and from distributing any communication by or on behalf of an issuer to promote the purchase or sale of that issuer’s securities.

The bans will be in effect until May 2017 unless the BCSC lifts the sanctions at an earlier date.