The BC Securities Commission (BCSC) has banned a man with ties to Vancouver from participating in the investment market for 15 years following his conviction for conspiracy to defraud investors of a Boston-based biomedical company.
Marco G. Babini pleaded guilty in U.S. federal court in 2023 to conspiracy to commit securities fraud and wire fraud, and was sentenced in 2024 to prison time equal to time already served (approximately two and a half months), about nine months of pre-sentencing home incarceration and post-sentencing supervised release, and a fine of $50,000.
The conviction was for Babini’s participation with others in a securities fraud scheme in 2012 and 2013 to sell stock that was under his concealed control. Babini, who had trading authority over Swiss brokerage accounts in the names of nominee entities, wanted to raise money for a promotional campaign for the company’s stock, and arranged to execute trades with an undercover federal agent whom he thought was a corrupt broker.
Babini, who was living in Vancouver at the time of the crime, was arrested in Canada in 2020 at the request of U.S. authorities, and was extradited to the U.S. in 2023. As of May 2025, he was living in Vancouver.
The BCSC panel, which described Babini’s scheme as “deliberate, fraudulent, and dishonest,” said he is currently a risk to investors and the investment market, and that he should not be involved in certain aspects of the business of any issuer.
The panel ordered that Babini resign from any position he holds as a director or officer of any issuer or registrant, and prohibited him for 15 years from:
- Trading in or purchasing any securities or derivatives, with certain limited exceptions
- Becoming or acting as registrant, promoter, or a director or officer of any issuer or registrant
- Advising or otherwise acting in a management consultative capacity in the securities or derivatives markets
- Engaging in promotional activities on behalf of himself or an issuer, security holder, party to a derivative or someone who would reasonably be expected to benefit from the activities, and
- Relying on any exemptions in B.C.’s Securities Act.
“We prohibit Babini from involvement with issuers in trading or capital raising, including while acting as a consultant,” the panel said. “However, we do not intend to prohibit him from providing employment or consulting services to issuers regarding operational issues.”
