Former Vancouver investment adviser Bradley Moynes is charged with multiple counts of securities fraud.
The U.S. Securities and Exchange Commission has added another B.C. resident and stock promoter to its growing roster of alleged fraudsters involved in a scheme involving over $1 billion of trading orchestrated from Vancouver.
Bradley Moynes, 51, a former Vancouver investment adviser turned cryptocurrency promoter is facing civil allegations of securities fraud, according to a June 27 complaint lodged by the commission (SEC) in Boston. His companies Digatrade Financial Corp. and Vancap Ventures are co-defendants.
Moynes is accused of working with offshore shell facilitator Fred Sharp, a former Vancouver lawyer who was charged with fraud by the commission last August.
Sharp did not respond to the charges and now owes the commission US$52.9 million following a default judgment May 12. He also faces criminal charges along with members of his so-called “Sharp Group.” The group is alleged to have orchestrated hundreds of “pump and dump” schemes utilizing offshore shell companies held by nominee owners, between 2011 and 2019.
According to the complaint, Moynes became a Sharp Group client in March 2014, when Moynes was president of Formcap Corp., a Nevada company.
Phone records obtained by the commission allege to show Sharp dividing 95% of tradable Formcap shares into blocks of less than 5% held by the offshore companies, thus avoiding reporting…
