Peter Pocklington a former owner of the Edmonton Oilers is being accused by the U.S. Securities and Exchange Commission (SEC) of defrauding investors.
“The SEC alleges that in 2010, Pocklington pleaded guilty to a federal felony perjury charge and was later ordered to pay over $5 million as part of a settlement for unrelated state securities fraud and registration charges,” the SEC said. “Pocklington subsequently founded, and now controls, California-based The Eye Machine LLC (now known as Nova Oculus Partners LLC), a medical device company that raised over $14 million between 2014 and 2017 from more than 260 investors in unregistered offerings.”
The SEC alleges Pocklington and his attorney, Lantson E. Eldred, set up ownership of The Eye Machine in such a way as to hide Pocklington’s role.
“Investors should know when a recidivist plays a central role in a company’s operations and offerings,” said Michele W. Layne, director of the SEC’s Los Angeles Regional Office. “Investors should research the background of anyone offering an investment, but they can only do this if the offering accurately and adequately discloses the individuals involved.”
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Phil Heidenreich – Global News