Trio tied to an illegal phone room admit to violating securities laws

    VANCOUVER, April 30 /CNW/ - The British Columbia Securities Commission
has reached settlements with a sanctioned individual who contravened a
Commission order issued on February 16, 2000, and two brothers who assisted
him in doing so.
    Under the terms of the separate settlements, Francis (Frank) Jason Dean
Biller cannot become or act as a director or officer of any issuer in British
Columbia in his lifetime. Biller also received a permanent ban from engaging
in investor relations activities, and purchasing or trading securities in B.C.
    It was also determined Biller's conduct warranted a $250,000 sanction,
but because he has liabilities in excess of $30 million and he is bankrupt,
the Executive Director determined he did not have any prospect of paying the
BCSC, so the sanction was not imposed.
    In the other two settlements, Richard Norman Jeffs will not engage in
investor relations activities in B.C. for a period of five years. His brother,
Robert Leigh Jeffs (commonly known as Leigh Jeffs), has agreed to pay $75,000
to the BCSC, and he is to ensure both Fairtide Capital Corporation and
Bayshore Management Corporation are stricken from the B.C. corporate registry.
    The Executive Director also ordered Leigh Jeffs to resign any position he
holds as a director or officer of a public issuer, and he cannot become a
director or officer of a public issuer, or engage in investor relations for 15
    In their settlements, the Jeffs brothers admitted to enabling Biller to
violate his order between June 2002 and November 2002. The BCSC issued the
Biller order on February 16, 2000, which prohibited Biller from trading in
securities and engaging in investor relations for ten years. By admitting to
promoting securities and engaging in investor relations activities in a phone
room in his settlement, Biller agreed that he had violated his order.
    In May 2002, Richard Jeffs assisted Biller to relocate from Costa Rica to
Vancouver to work in a phone room operated by Bayshore, a company his brother,
Leigh Jeffs, sat on as a director. At the time, Leigh Jeffs also acted as
director and president of Fairtide, and was sole director and president of
Gibraltor Consulting Corporation.
    In his settlement, Leigh Jeffs admitted to failing to be aware of the
provisions of the Securities Act and to ensure the phoners, as employees of
Bayshore, did not breach it.
    From June 2002 to November 2002, Gibraltor employed Biller to manage
Bayshore's phone room. During this time, Bayshore's phoners made thousands of
calls to people living both inside and outside of B.C., violating the
Securities Act by repeatedly calling people and pressuring them to purchase
the investments they were promoting. Phoners also contravened the Act by
trading in the securities they promoted.
    In November 2002, BCSC staff executed a search warrant on the premises,
and the phone room ceased operation shortly thereafter.
    As the phone room manager, Biller supervised approximately 16 phoners.
His activities included assigning specific tasks and responsibilities to
phoners, training them to deal with objections from call recipients, and
writing scripts for them to read to possible investors.
    Bayshore, Leigh Jeffs, Biller and the phoners were not registered under
the Securities Act at the time.

    The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
You may view the settlements on our website by typing in the
search box, Robert Leigh Jeffs, Richard Norman Jeffs, Francis (Frank) Jason
Dean Biller or 2007 BCSECCOM 192, 194 and 200. If you have questions, contact
Andrew Poon, Media Relations, 604-899-6880.

For further information:

For further information: Andrew Poon, (604) 899-6880 or (B.C. & Alberta)

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