Article: BCSC clears short seller Jon Carnes of fraud in Silvercorp case

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BCSC clears short seller Jon Carnes of fraud in Silvercorp case

Peter Koven, 15 May 2015

Short seller Jon Carnes has been cleared of fraud allegations by a British Columbia Securities Commission panel, which found his attacks on Silvercorp Metals Inc. were not prohibited. The panel did, however, raise serious concerns with his conduct. Continue reading “Article: BCSC clears short seller Jon Carnes of fraud in Silvercorp case”

Article: Fraud allegations against short-seller dismissed in Silvercorp case

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Fraud allegations against short-seller dismissed in Silvercorp case

KEITH BEDFORD, 14 May 2015

A Canadian securities panel has dismissed fraud allegations against short-seller Jon Carnes, who was accused of manipulating Silvercorp Metals Inc.’s stock. The dismissal by the British Columbia Securities Commission panel is the latest twist in a prolonged affair that saw Silvercorp stock drop 90 per cent, landed a Canadian researcher in a Chinese jail and put Mr. Carnes through a lengthy regulatory battle. In 2013, staff at the B.C. securities regulator accused Mr. Carnes of committing fraud when he anonymously wrote negative reports about Silvercorp while building his short position in the Vancouver-based mining company.
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Article: Canada watchdog accuses Silvercorp short seller of fraud

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Canada watchdog accuses Silvercorp short seller of fraud

Cecilia Jamasmie, 20 December 2013

Canada’s British Columbia’s provincial securities regulator has accused hedge fund manager Jon Richard Carnes of fraud committed by writing a false negative report in 2011 about Silvercorp Metals Inc. (TSX, NYSE: SVM) to profit from its falling share price. According to BC Securities Commission, Carnes —who operates the Alfred Little financial blog— began writing negative reports about companies that traded on a North American exchange and operated in China in 2010. The body alleges he sought to profit from his negative reports by shorting—or betting against—the issuer’s securities before publishing the reports, and then covering his short position after the share price dropped in response.
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Article: Canada Regulator Accuses Silvercorp Short Seller of Fraud

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Canada Regulator Accuses Silvercorp Short Seller of Fraud

Karen Johnson, 19 December 2013

TORONTO—British Columbia’s provincial securities regulator accused hedge fund manager Jon Richard Carnes of fraud when he wrote negative reports about Silvercorp Metals Inc. to profit from its falling share price.

In a statement Thursday, the British Columbia Securities Commission said starting in 2010, Mr. Carnes, who operates the “Alfred Little” financial blog, wrote negative reports about companies that traded on a North American exchange and operated in China. It alleges he sought to profit from his negative reports by shorting—or betting against—the issuer’s securities before publishing the reports, and then covering his short position after the share price dropped in response.
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