Close X
Thursday, November 28, 2024
ADVT 
National

B.C. Securities Regulator Dismisses Fraud Allegations Against Jon Carnes

Darpan News Desk The Canadian Press, 15 May, 2015 11:03 AM
    VANCOUVER — British Columbia's securities regulator has dismissed fraud allegations against a hedge fund manager and financial blogger accused of making claims about Silvercorp Metals Inc. (TSX:SVM).
     
    Jon Richard Carnes, who ran the "Alfred Little" financial blog, was accused in December 2013 of anonymously publishing a negative report about Silvercorp aimed at driving down its share price and then profiting from a short position he held.
     
    In its statement of allegations, staff at the British Columbia Securities Commission alleged Carnes posted a report that contained numerous false statements and omitted to state certain information in relation to a mining expert's report about Silvercorp.
     
    However, in a decision issued Thursday, a BCSC panel dismissed the fraud allegations, saying none of the statements or omissions constitute a prohibited act for the purpose of fraud.
     
    Silvercorp is a mining company and reporting issuer with its head office in Vancouver. It has business operations in China, and its securities trade on the Toronto Stock Exchange and the New York Stock Exchange.

    MORE National ARTICLES

    Man In Custody Faces Second Charge After Body Found In West Vancouver House

    Man In Custody Faces Second Charge After Body Found In West Vancouver House
    Fifty-four-year-old Li Zhao remains in custody pending his next court appearance on Monday.

    Man In Custody Faces Second Charge After Body Found In West Vancouver House

    Man Charged In B.C. Manslaughter, Arrested By Police In Saskatoon

    Man Charged In B.C. Manslaughter, Arrested By Police In Saskatoon
    LIKELY, B.C. — Police say a homicide charge has been laid in the case of a British Columbia man who was last seen a year and a half ago.

    Man Charged In B.C. Manslaughter, Arrested By Police In Saskatoon

    B.C. Broker Who 'Lied' Ordered By Securities Regulator To Pay $30,000 Penalty

    B.C. Broker Who 'Lied' Ordered By Securities Regulator To Pay $30,000 Penalty
    The B.C. Securities Commission says its panel found William Wood traded in securities that were on his employer's restricted list and set up an offshore structure to hide his trading activities.

    B.C. Broker Who 'Lied' Ordered By Securities Regulator To Pay $30,000 Penalty

    PICS Moves Ahead With Plans To Build A Long Term Seniors Care Home

    PICS Moves Ahead With Plans To Build A Long Term Seniors Care Home
    Progressive Intercultural Community Services (PICS) CEO Charan Gill is often asked why he is so passionate about building a culturally-sensitive long term seniors home. 

    PICS Moves Ahead With Plans To Build A Long Term Seniors Care Home

    Ace Bollywood Choreographer Shiamak Davar Sued For Sexually Abusing Two Canadian Dancers

    Ace Bollywood Choreographer Shiamak Davar Sued For Sexually Abusing Two Canadian Dancers
    Ace choreographer Shiamak Davar is shocked and has denied sexual abuse allegations made by his former dance students Percy Shroff and Jimmy Mistry.

    Ace Bollywood Choreographer Shiamak Davar Sued For Sexually Abusing Two Canadian Dancers

    Home Burns In Chilliwack; Father Confesses To Triple Murder On Facebook Before Committing Suicide

    Home Burns In Chilliwack; Father Confesses To Triple Murder On Facebook Before Committing Suicide
    Officers are not saying what they are investigating, but the Vancouver Province reports that a man who lived in the house confessed on Facebook to murdering his daughter, wife and sister over several days.

    Home Burns In Chilliwack; Father Confesses To Triple Murder On Facebook Before Committing Suicide