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6/20/18

Michael Ballanger couldn't avoid his day in court forever

Due to travelling last week this humble corner of cyberspace is a bit late to the story, but that's hardly an issue as the worm Ballanger has been trying to wriggle out of the hearing for months on end so a few extra days ain't no biggie.

In a ruling handed down on June 13th, IIROC did little more than slap the wrists of this corrupt and corrupting market player but it's still interesting to see the details of the case. As expected, it was all about his dirty dealings in shares of Tinka Resources (TK.v) back in 2014 when he thought he was important and for more, see the ruling PDF right here.

Sadly IIROC is a weak entity and only fined the toerag $15,000 (if this sort of shenanigans happens on US SEC turf, Ballanger would have chance to get intimate with Bubba in the lock-up showers) and barred him for a nominal year from the industry, but there is good news as a silver lining, right at the end of the ruling:
"The Respondent is 65 years old and has indicated that he does not intend to return to the investment industry."
Which makes Canadian capital markets just that little bit cleaner going forward.