A person has been charged in B.C. with two counts of insider trading under the Criminal Code after an investigation by the BC Securities Commission (BCSC).
Douwe Van Hees was charged on two counts of prohibited insider trading for:
- Using inside information obtained from Shaun Pollard, who possessed that information by virtue of their employment, office, duties and/or occupation with an issuer, and
- Using inside information possessed by virtue of Van Hees being a shareholder and/or having a business or professional relationship with an issuer.
No allegations have been made against the issuer. A bail hearing was conducted on May 29 in Vancouver Provincial Court. As a result of the hearing, Van Hees was granted release on a number of conditions, including that he pay a $150,000 deposit into court, report to a bail supervisor as directed by telephone, with in-person reporting required twice a year, and that he have no contact with Pollard except through legal counsel as may be required for court purposes.
The allegations against Van Hees have not been proven.
