British Columbia Securities Commission settles fraud case for CAD 307,176 and permanent market bans

The British Columbia Securities Commission has settled a fraud case with North Vancouver resident David Lawrence Pazurik, who admitted raising money from investors and using most of it for gambling, personal expenses, and payments to friends and associates rather than the stated business purpose. Under the settlement, Pazurik agreed to pay CAD 107,176 in disgorgement, representing the net amount obtained from the misconduct, and a further CAD 200,000. He also accepted permanent bans from key activities in British Columbia's investment market. Between January 2021 and May 2022, Pazurik raised CAD 200,460 from 14 investors through profit-sharing agreements after advertising online and offering shares in an unnamed advertising and promotional business. He told investors that his sole proprietorship, Pazman Promotions, produced customized merchandise for businesses and that their money would be used to fulfill sales contracts, with reimbursement of principal plus a specified profit in a short period. Instead, he spent CAD 146,456 on unrelated purposes and returned only CAD 39,280 to investors, without paying the full promised returns. The permanent sanctions bar him from acting as a director or officer of an issuer or registrant, acting as a registrant or promoter, advising or serving in a management or consultative role in the investment market, and engaging in promotional activities. He is also permanently banned from purchasing securities or derivatives, except in very limited circumstances and only through a registrant.