Vancouver company fined $900,000 for illegally selling shares to 'vulnerable' investor

On Dec. 16, McKay paid $1.75 million to Bracetek to purchase shares.

As outlined in the BCSC decision, those included $900,000 to Sidhu’s three companies for licensing fees for Bracetek’s products and $370,000 to a company owned by Sidhu Sr. for consulting fees.Article content In an affidavit, McKay said she had suffered emotional trauma and physical harm from the experience and fears never being able to afford owning a home again.

“Not only did it directly obtain the benefit of the full $1.75 million as a result of its misconduct, it spent virtually all of that money as soon as it had the cash to do so, to pay back and benefit its sole director, his family and girlfriend,” it said.

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