Back in 2017, Marcel Rada was permanently banned by IIROC and the BCSC from becoming a director or officer of a public company, from acting as a registrant, from acting as a promoter, from management and/or consultancy in the securities market and banned from all investor relations work as well. Here’s part of the ruling against him:
IIROC found Rada admitted he solicited and obtained $205,000 in funds from individuals for the purpose of investing in two issuers, without disclosing that a significant portion of that money, more than $175,000, would then be paid to him. Further, Rada admitted to facilitating off-book transactions without the knowledge and consent of his employer. He also refused to produce bank records and attend at an interview with IIROC staff when asked.
Therefore, it comes as a surprise to find that this individual, resident in BC, has recently been in flagrant disregard of all those orders. Marcel is currently pitching a junior that wants to move forward with the Tassiwini gold project in Guyana and has been using aggressive pitches as well as offering places to potential investors in the seed capital round. And that should be enough to send him straight to jail if IIROC and the BCSC ever get their act together. Do Not Feed The Animals, Canada.