Is Bruce Strebinger Vancouver involved in a Multi-Million Scam (Latest Update 2023)
Bruce Strebinger Vancouver is a real estate developer banned by the SEC for running a multi-million fraudulent scheme.
In 2016, the Securities and Exchange Commission imposed a permanent ban on Bruce Strebinger Vancouver along with $1.5 million in penalties.
You can help us put a stop to online scams before they grow too big and end up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s begin the review.
His partner in crime was Brent Chapman, an ex-employee of Bolder Investment Partners Ltd.
Together, Brent and Bruce were boosting a Tennessee coal company named Americas Energy Company.
They organized a promotion campaign for the firm and sold millions of shares.
The SEC order put a permanent ban on Bruce Strebinger Vancouver from taking part in penny stocks.
Also, they ordered him to pay the profits he made from the fraudulent scheme. According to the SEC, the estimated profits of Brent Chapman were $2.8 million.
Similarly, they ordered Bruce Strebinger to pay $1.5 million to settle the case.
Like Brent, he accepted a permanent ban from dealing in penny stocks. He is barred from any future violations as well.
Also, he didn’t admit to any wrongdoings just as Brent Chapman didn’t.
As both parties agreed to the settlement, the SEC’s case reached completion.
However, it didn’t explain the SEC’s claim about the sale of $17 million worth of stock Bruce Strebinger Vancouver and Brent made through offshore accounts.
After all, the recovered funds only amount to $4.3 million. What happened to the rest of the $12.7 million?
The SEC’s Order Against Bruce Strebinger Vancouver:
The SEC announced on March 15, 2016, that the court had entered a final judgment against Bruce Strebinger.
It imposed a permanent ban on him for future violations as well as ordered him to pay disgorgement in the amount of over “.5 million.
The SEC’s complaint says Bruce had acquired positions of over 5% of Americas Energy’s common stock without disclosing the fact. This is illegal according to federal securities laws.
After acquiring the significant undisclosed position, Bruce and Bret organized an aggressive multi-million dollar campaign to promote the stock.
Using Illegal Marketing Tactics to Mislead Investors:
They reached out to prospective investors, sending emails with stock promotion reports with false statements. Moreover, when the investors were buying more stock of Americas Energy, Bruce Strebinger Vancouver and Brent began dumping the same.
For example, one of their promotional emails was an “Intelligent Investor Report” urging investors to quickly buy the stock at the target price between $5-$20.
Moreover, they sent out a 32-page mailer, calling it the Cohen Report to promote the stock.
Bruce Strebinger Vancouver had edited the mailer himself. He and Brent had paid a Californian named Pam Cohen to write the report.
The SEC’s complaint shares that Bruce had urged Pam to focus on promoting the penny stock saying 350 million tons of coal is worth 20 billion dollars.
By the time they released the reports, both Bruce and Brent had significant ownership of Americas Energy. Around 30% of the firm’s public float.
Bruce Strebinger Vancouver and his partner in crime were using several Swiss entities to mask their involvement.
During their scheme, the Americas Energy stock jumped to $5.21 before falling to $0.67. Within a few months, the company became bankrupt.
Also, the complaint says they used a complicated network of offshore accounts to hide their trail.
As a result, Bruce Strebinger violated Section 17(a) of the Securities Act of 1933 and Sections 10(b), 13(d), and 20(b) of the Securities Exchange Act of 1934.
Also, he violated Rules 10b-5, 13d-1, and 13d-2(a).
Bruce Strebinger Vancouver: Where is He Now?
Currently, Bruce Strebinger claims to be a luxury real estate specialist. He says he is an expert in the housing market as he has bought and sold multiple properties in different industries.
Moreover, he claims to be an expert in real estate development and the building of luxury as well as single-family homes.
After going through the above points, it’s clear that Bruce Strebinger Vancouver is not as reliable as he claims to be.
He has a past of running fraudulent schemes to boost his wealth.
The SEC had to take strict action against him. So you can understand how unreliable he truly is.
You should stay miles away from such fraudsters.
For example, Hanif Lalani is a telecom business executive who had to pay 1.5 million in fines for insider trading.
Similarly, Austin Rotter and his family had to pay $130,000+ as fines. Both of them have moved on to more serious and worse ventures.
Bruce Strebinger Vancouver ran a multi-million penny stock fraud causing investors to lose millions. He was caught by the SEC. Now, he runs a real estate business. Beware.
- Ran a multi-million penny stock scam
- Paid $1.5 million as a penalty
- Used deceptive marketing