Originally Syndicated on June 14, 2024 @ 5:59 am
The SEC has barred Bruce Strebinger Vancouver from the real estate industry for operating a multimillion-dollar fraudulent operation.
Bruce Strebinger Vancouver was hit with a $1.5 million fine and a permanent suspension by the Securities and Exchange Commission in 2016.
Brent Chapman, a former worker at Bolder Investment Partners Ltd., was his accomplice.
Bruce and Brent were working together to support Americas Energy Company, a coal company in Tennessee.
Millions of shares were sold as a result of the campaign they planned to promote the company.
Bruce Strebinger Vancouver was permanently barred from participating in penny stock trading by the SEC ruling.
They also mandated that he reimburse them for the money he earned from the illegal plan. The SEC estimates that Brent Chapman made $2.8 million in earnings.
In a similar vein, they mandated that Bruce Strebinger pay a settlement of $1.5 million.
He consented, like Brent, to a lifelong prohibition from penny stock trading. He is also prohibited from breaking this again.
He also refrained from acknowledging any fault, much like Brent Chapman did.
With the parties’ consent to the settlement, the SEC’s lawsuit was concluded.
It did not, however, address the allegations made by the SEC regarding the $17 million worth of stock that Bruce Strebinger, Brent, and Vancouver made through offshore accounts.
Ultimately, the money that has been recovered is only $4.3 million. What became of the remaining $12.7 million?
Bruce Strebinger Vancouver and the SEC’s Order:
On March 15, 2016, the SEC declared that Bruce Strebinger had received a final judgment from the court.
It ordered him to pay disgorgement totaling more than $.5 million and placed a permanent ban on him for any further infractions.
Bruce allegedly bought more than 5% of Americas Energy’s common shares without telling anyone about it, according to the SEC’s complaint. According to federal securities laws, this is prohibited.
Following their acquisition of the substantial concealed position, Bruce and Bret launched a vigorous multi-million dollar stock promotion effort.
Employing Illegal Marketing Techniques to Mislead Investors: They contacted potential investors by sending emails containing reports on stock promotions that contained inaccurate information. Furthermore, Bruce Strebinger Vancouver and Brent started selling the same Americas Energy shares when investors were purchasing more of it.
One of their advertising letters, for instance, included a “Intelligent Investor Report” advising investors to purchase the stock as soon as possible at the target price of $5–$20.
In addition, they promoted the stock with a 32-page mailer they called the Cohen Report.
The mailer had been edited by Bruce Strebinger Vancouver himself. He and Brent had hired Pam Cohen, a Californian, to draft the report.
According to the SEC’s complaint, Bruce had advised Pam to concentrate on marketing the penny stock, citing the 20 billion dollar value of 350 million tons of coal.
When the reports were made public, Bruce and Brent jointly owned a sizable portion of Americas Energy. thirty percent or so of the company’s float.
Bruce Strebinger Vancouver and his accomplice were disguising their involvement through a number of Swiss organizations.
Americas Energy’s stock rose to $5.21 throughout their scheme, but it eventually dropped to $0.67. In a few of months, the business filed for bankruptcy.
In addition, the complaint claims that they covered their tracks by creating a convoluted web of offshore accounts.
Bruce Strebinger thereby broke the Securities Act of 1933’s Section 17(a) as well as the Securities Exchange Act of 1934’s Sections 10(b), 13(d), and 20(b).
He also disregarded Rules 13d-1, 13d-2, and 10b-5 (a).
Where is Bruce Strebinger Vancouver nowadays?
Bruce Strebinger says he’s a luxury real estate specialist these days. Having bought and sold numerous houses in various businesses, he claims to be an expert in the property market.
Furthermore, he presents himself as an authority on single-family and luxury home construction and real estate development.
The Bottom Line
It’s evident from looking over the points above that Bruce Strebinger Vancouver seems to be less trustworthy than he seems to be.
He has a history of utilizing dishonest tactics to increase his money.
The SEC was forced to prosecute him harshly. that you can see just how untrustworthy he is.
You ought to avoid these con artists at all costs.
For instance, telecom industry executive Hanif Lalani was fined 1.5 million for insider trading.
Austin Rotter and his family also had to pay fines totaling more than $130,000. They’ve both gone on to worse and more serious endeavors.
