Freeze order granted on local assets of British Columbians accused in $1.3-billion stock fraud

A B.C. Supreme Court judge has approved a U.S. Securities and Exchange request to freeze houses, vehicles and other assets of at least five British Columbians accused in a $1.3-billion international stock fraud.

The SEC sought the freeze in 2022 on the assets in B.C. — including two luxury homes — while a civil case in the U.S. makes its way through the courts against the five British Columbians.

The SEC is seeking repayments from an alleged pump-and-dump stock scheme, fines and interest totalling nearly $75 million from the B.C. residents.