BCSC Executive Director's Bulletin: Securities regulator issues temporary
order and gives notice of a hearing into alleged advance fee scheme
The notice of hearing alleges that The Castleton Group and Beltway M&A, two purportedly Hong Kong-based entities, contacted shareholders of TLC Explorations Inc. offering to purchase their shares if they paid a fee in advance.
The notice says Castleton representatives contacted at least six TLC Explorations shareholders in B.C. with the offer in or around May and
Castleton and Beltway are not registered as corporations in B.C., and TLC Explorations is a non-reporting federally incorporated company.
An advance pay scheme involves soliciting shareholders of private companies for their shares and requires that shareholders pay a fee before their shares are purchased.
A hearing into the allegations will be held before a panel of commissioners on
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website, www.bcsc.bc.ca. If you have questions, contact
For further information: Ken Gracey, (604) 899-6577 or (Canada) 1-800-373-6393
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