2012-02-14 18:53:11 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/14/12 -- The British Columbia Securities Commission is investigating Rashida Samji and Arvindbhai B. Patel (also known as Arvin Patel) in regards to their involvement in an investment scheme.
As part of a regulatory investigation, the BCSC is looking at transactions related to an investment sold by Samji. As the sole director and officer of Samji and Assoc. Holdings Inc, Samji was a member of the Society of Notaries Public of BC, classified as a "roving notary" who covers the practice of other notaries due to illness or vacation. The BC Society of Notaries Public suspended Samji on February 7, 2012.
The BCSC is also examining Patel's role in the sale of the investment. He has been suspended from his position as a financial planner and as a mutual fund salesperson.
The investment offered a 12% annual return and funds were purportedly held in a trust account administered by Samji.
"We felt it was important to warn investors not to send any money to either of these individuals," said Lang Evans, Director of Enforcement for the BCSC. "We encourage anyone who had dealings with Samji or Patel to contact the BCSC."
Investors can find information about the case and access resources at the Investor Communications Services Centre on InvestRight.org, or contact the BCSC inquiries line at 604-899-6854 or 1-800-373-6393.
The Court has appointed a representative of the BC Society of Notaries Public as the custodian to operate Samji's notary practice. The custodian can be reached at 604 681 4516.
The BCSC is the independent provincial government agency responsible for regulating trading in securities within the province. For media enquiries, please contact Richard Gilhooley, media relations, at 604 899 6713.
Learn how to protect yourself and become a more informed investor at www.investright.org.
Contacts:
British Columbia Securities Commission
Richard Gilhooley
Media Relations
604-899-6713 or (Canada) 1-800-373-6393
www.bcsc.bc.ca
