Monday, February 4, 2013

Checking In On the Vancouver Business Scene

I've mentioned my morbid fascination with the underbelly of finance more than once and have singled out David Baines of the Vancouver Sun as one of the best reporters on this admittedly odd corner of capitalism.
Here's the latest, a quick search of Mr. Baines' byline for the last two months:
February 1, 2013  
 David Baines: Vancouver promoter implicated in international bribery scandal 
January 29, 2013
January 25, 2013 
VANCOUVER – In 1998 and 2006, two groups of investors quietly acquired and donated to the Museum of Vancouver 18 sculptures that some authorities believed were created by Michelangelo.The sculptures – details of legs, arms, shoulders and torsos - are made of clay and stand only 10 to 27 centimetres...
January 24, 2013
January 22, 2013 
January 21, 2013
January 18, 2013 
David Baines: Former geologist sentenced to six years in prison for assay fraud
January 15, 2013 
David Baines: BCSC accuses trio of defrauding investors in Comox Valley development scheme
January 9, 2013
Dec. 28, 2012 
Baines: Four stock offenders caught in BCSC offshore sweep were all from West Vancouver
Dec. 25, 2012 
David Baines: West Vancouver “portfolio manager” raised $10 million from investors, then left the country
December 21, 2012
David Baines: Bucolic burb is home to host of misbehaving stock promoters and brokers
Dec. 18, 2012
David Baines: IR specialist ends up in the lion’s den
Disclosure may be the cornerstone of the public markets, but it comes in many shades.There’s the official disclosure record, which is what you read in securities filings, and the unofficial record, which is what the smile-and-dial guys tell you on the phone.Aaron Ross is one of those phone guys...
Dec. 17, 2012
Dec. 14, 2012
Dec. 13, 2012
Dec. 5, 2012 
That's it Dec. 5 to Feb. 4.
But, if one were to look at the November 2012 stories, you have the head of criminal investigations for the British Columbia Securities Commission getting fired, the former mutual fund salesman now selling bongs, the defrocked fund manager who, when ask about a Baines story on him responded:
...David's credibility has dropped significantly within the investment community, so I just write it off....
And many, many more
(Why We Love the Vancouver Business Scene [Frauds, Scams and Flim-flams])

We also took a special interest in the whole Planktos saga with the U.N., the mad scientist, the Vatican and a pink sheet stock. And then there was...