Last Updated: Apr. 19, 2023 1:05PMThe man who was caught cheating an investor of a million dollars by falsely claiming ownership of the Sooke Harbour House hotel is facing an additional $600,000 in penalties, according to a B.C. Securities Commission panel.that Sooke’s Timothy Craig Durkin, a director of SHH Holdings Limited, got a seven-figure investment after stating SHH owned all shares of the Sooke Harbour House hotel through a subsidiary when, in reality, it did not own any shares.
On Monday, a sanctions case was held against Durkin, where he was given a $600,000 penalty, as well as several other restrictions in relation to his scheme. Additionally, another $1 million is being fined against the SSH company itself, for a total of $1.6 million in penalties.In addition to the monetary penalties, Durkin is permanently banned from participating in B.C.’s securities market.
Engaging in promotional activities by or on behalf of an issuer, security holder or party to a derivative, or another person that is reasonably expected to benefit from the promotional activityCHEK NewsletterThe amount of money Durkin owes in penalties to the BCSC will be reduced by what is repaid to the investor.
So why isn't he doing jail time? I'd say fraud and theft over $5K.