The B.C. Securities Commission (BCSC) has imposed sanctions on Kuldeep Singh Sidhu, an Abbotsford resident convicted in the U.S. for securities-fraud conspiracy in 2021.
The order, issued Sept. 9, permanently restricts Sidhu from most activities in B.C.’s capital markets. He remains a director of three companies — Platinum Cedar Sales Ltd., Platinum Holdings Ltd., and Platinum Transit Ltd. — but the BCSC stressed these firms cannot trade in public markets given his record.
Sidhu was indicted in 2018 in California for manipulating stock prices in a pump-and-dump scheme. He later pleaded guilty to conspiracy, admitting he promoted shares through offshore accounts, websites, and high-pressure sales, while distributing proceeds to co-conspirators. He served 342 days in custody, received three years of supervised release, and was ordered to pay $67,000 in restitution before being deported to Canada.
In its ruling, the BCSC said Sidhu’s actions were “extremely serious” and showed dishonesty that makes him unfit for market participation. He is banned from serving as a director, officer, or adviser for any issuer or registrant.
Sidhu is permitted to trade for personal use in registered accounts like RRSPs or TFSAs. The commission said this poses no risk to the public.
Sidhu argued the sanctions were “arbitrary” and harmful to his financial situation, citing investments in several IPOs. But the BCSC said he provided no proof and that such investments must remain passive unless he applies for a variation order.
The regulator concluded Sidhu poses “a significant ongoing risk to investors and the integrity of B.C.’s capital markets.”
