VANCOUVER, Aug. 24 /CNW/ - British Columbia Securities Commission panel
has ordered two men criminally convicted of fraud out of the province's
Using a section of the Securities Act that allows the commission to issue
sanctions based on criminal convictions, a commission panel issued sanctions
against Terry James Minnie and Raymond Patrick Shaw.
On March 8, 2007, Minnie and Shaw were convicted of fraud and theft in
the Supreme Court of British Columbia for their roles in an investment scheme
that resulted in at least $1.8 million in investor losses. The court sentenced
Minnie to five years of jail time, and Shaw received a conditional sentence of
two years less a day followed by three years' probation.
Under the commission's order, Minnie cannot, except in limited
circumstances, act as a director or officer of any issuer, trade in securities
or engage in investor relations in his lifetime. Shaw is prohibited, except in
limited circumstances, from engaging in investor relations, acting as a
director or officer, or trading in securities for 20 years.
The executive director intends to discontinue administrative proceedings
before the Commission related to the same facts.
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
You may view the decision on our website www.bcsc.bc.ca by typing in the
search box, Terry James Minnie or Raymond Patrick Shaw or 2007 BCSECCOM 500 or
501. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.
Learn how to avoid investment fraud at the BCSC's investor education
For further information:
For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta),