A North Vancouver man has been ordered to pay in excess of $300,000 and barred from most market activities after a British Columbia Securities Commission investigation found he raised money from investors and used a large portion of it for gambling, personal expenses and payments to friends.
Allegations and how investors were approached
The commission’s summary says that in 2020 and 2021 David Lawrence Pazurik placed online classified advertisements offering shares in what the release described as a "well-established" advertising business. By May 2022, Pazurik and his company, Pazman Promotions, had raised $200,460 from 14 investors, with the money promised to be used to fulfil sales contracts for Pazman’s customers and to provide investors with quick returns plus specified profit shares.
"well-established" advertising business
What the BCSC found
The regulator determined that of the $200,460 raised, $146,465 was directed to expenses unrelated to the stated investment purposes. Those misdirected funds included payments to an online gambling website, personal spending and transfers to acquaintances. Only $39,280 was returned to investors, according to the BCSC summary.
- Total raised: $200,460 from 14 investors
- Misdirected funds: $146,465
- Amount repaid to investors: $39,280
Penalties and prohibitions
Following the investigation, Pazurik agreed to forfeit $107,176 — the portion of funds the commission said were raised through misconduct — and to pay an additional $200,000 as part of a settlement. The combined financial outcome results in the more-than-$300,000 figure cited by the BCSC.
In addition to monetary sanctions, the commission has imposed a series of permanent or lifetime bans. Pazurik is prohibited from:
- acting as a director or officer of any issuer or registrant;
- acting as a registrant or promoter;
- advising or acting in a management or consultative role in the investment market;
- engaging in promotional activities; and
- purchasing most securities or derivatives.
Local context and implications
Though the case was dealt with by the provincial securities regulator, it raises questions for North Vancouver residents about due diligence when responding to online classified offers and private investment solicitations. The use of classified ads to solicit capital and the rapid diversion of funds to gambling and personal use underscore the risks of informal fundraising arrangements without proper regulatory oversight or disclosure.
The BCSC noted this was Pazurik’s first disciplinary matter with the regulator, but the lifetime prohibitions aim to prevent future harm to investors and the capital markets. For local investors and community organisations, the decision is a reminder to verify registration and to seek independent advice before committing funds to private offerings.
| Item | Amount |
|---|---|
| Total raised | $200,460 |
| Misdirected to unrelated expenses | $146,465 |
| Repaid to investors | $39,280 |
| Forfeiture ordered | $107,176 |
| Settlement payment | $200,000 |
The commission’s enforcement action provides an official record of findings and remedies; investors who believe they were affected by the conduct described should consult the BCSC’s public documents or seek legal advice about potential next steps.
