West Vancouver businessman Frederick Sharp permanently banned from B.C.’s investment markets

The move by the province\u0027s financial market regulator follows a U.S. court judgment against him in a $1\u002Dbillion stock fraud. Find out more.

last year for fraud and market manipulation after he did not defend himself against allegations he masterminded a long-running “complex” scheme to facilitate penny stock fraud in hundreds of companies with gross sales of more than $1 billion US.

The U.S. district court for Massachusetts issued penalties against Sharp and an order to pay back illicit profits, with interest, totalling $53 million US. The securities commission said it provided Sharp the opportunity to be heard, but he did not provide any evidence or submissions.

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