(Reuters) - The Ontario Securities Commission, Canada's main market
regulator, accused him in 1999 of four counts each of insider
trading and misleading investors, saying he sold C$84 million
of Bre-X stock in 1996, months before
independent surveys showed the company's much-touted gold
deposit in Indonesia was worthless.
Shares of the company, which had soared to value the firm
at C$6 billion, collapsed to nothing, costing thousands of
investors their savings, and leaving ruined shareholders to
sell their stock certificates off as bitter souvenirs to a
public fascinated by the story.
Read more at Reuters.com Government Filings News
regulator, accused him in 1999 of four counts each of insider
trading and misleading investors, saying he sold C$84 million
of Bre-X stock in 1996, months before
independent surveys showed the company's much-touted gold
deposit in Indonesia was worthless.
Shares of the company, which had soared to value the firm
at C$6 billion, collapsed to nothing, costing thousands of
investors their savings, and leaving ruined shareholders to
sell their stock certificates off as bitter souvenirs to a
public fascinated by the story.
Read more at Reuters.com Government Filings News
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