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Stock promoter fined for filings

A West Vancouver stock promoter has been fined $15,000 and ordered by the B.C. Securities Commission to do some remedial reading after admitting that he filed documents on behalf of three companies that he knew were false or misleading.

A West Vancouver stock promoter has been fined $15,000 and ordered by the B.C. Securities Commission to do some remedial reading after admitting that he filed documents on behalf of three companies that he knew were false or misleading.

Farshad Shirvani was ordered to pay the fine and take a course on the duties and responsibilities of corporate directors and officers after admitting he failed to disclose in corporate documents that three ceasetrade orders had been issued against International Ranger Corp. while he was a director of the B.C. mining exploration company from 2006 to 2011.

Currently Shirvani is a director of Doubleview Capital Corp. and president, promoter and director of Casa Minerals Inc. and Next One Capital Corp.

As director of those companies, Shirvani is supposed to come clean in statutory declarations that cease-trade orders were issued while he was a director of Ranger.

He failed to do that in 13 documents, by giving a false answer to a specific question regarding his involvement in any company that has been subject to a cease-trade order, according to the securities commission.

The securities commission noted the cease-trade orders against Ranger were in effect for 33 of the 60 months that Shirvani was a director.

In announcing the settlement deal, the securities commission noted Shirvani does not have a history of regulatory offences and admitted to what happened when commission staff alerted him to the misconduct.

Under the agreement, Shirvani can't become a director or promoter of any other public company except the three he is currently involved with, until he completes the course on corporate officers' responsibilities.

jseyd@nsnews.com

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