Ayaz Dhani, shown here on a Facebook photo, was convicted of financial fraud after an investigation by the BB. The Securities and Police Commission in Vancouver.
A financial fraudster in Vancouver, convicted of selling several people's bogus investments, received a 13-month sentence this week, according to BBC. Securities Commission.
This means that 38-year-old Ayaz Dhani was sentenced in a provincial court to a total of three years in 2018 for financial fraud against five victims. This is a rare time in British Columbia jail as a financial fraudster.
Dhani has also ordered an extract of his DNA.
He announced he was guilty in October to cheat over $ 5,000 and three BKs. The Securities Act.
In August, Dhanyani pleaded guilty to four counts of over $ 5,000 fraud and violations of the Securities Act, including non-compliance with the Banking Act. The Securities Commission orders against trading by failing to present a prospectus (a formal document detailing the investment) and misleading investors.
Dahnani, who is also known for several aliases, including Azim Virani and Samuel Ramos, received a 23-month conviction for August's crimes.
The court ordered Gianni to pay $ 194,568 for restitution.
Judicial verdicts follow investigations by the BCSC Investigation Branch and the Vancouver Police Department. A VPD study also led to a $ 5,000 fraud conviction for Dacheng Wan, who was given a suspended sentence of two years and was ordered to pay $ 65,570 for restitution. Wang had been involved with Danan in a deceptive real estate deal.
"Dhani complains about people's lack of knowledge about investment," said Peter Brady, BCSC CEO, on Friday in a written statement. "He made promises for business or opportunities that simply do not exist."
Previously, BCSC sanctioned Dhani for security fraud and ordered him to pay a fine of $ 225,000 and to return $ 188,800 in fraud.
In 2016, a BCSC tribunal found that Dhani deceived three investors when he took money into a "scheme" involving alleged sales of shares in gold and oil companies. Dhani has repeatedly turned to potential investors with a number of allegedly profitable investment opportunities with resource companies, the commission found, but in fact there were no companies and no shares.
In 2017, Dhani returned $ 120,000 to BCSC, which was handed over to the victims.
A post-2017 poll shows that police investigations and the prosecution of investment fraud in British Columbia over the last decade are rare.
The investigation also found that the cases in which BCSC's investigative team took over were lower-priced fruits involving fewer casualties and smaller sums than those prosecuted by the Commission in the tribunals, resulting in large unpaid financial penalties .
Dhanani has had previous criminal convictions for theft and fraud of over $ 5,000, dating from crimes in 2010 and 2011.
And he is scheduled for trial next year for more criminal charges, following an investigation by the VPD. In January, he was charged with kidnapping, illegal detention, identity theft, and unauthorized use of credit cards. In May, Dhani is accused of extortion.