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June 30th, 2005
Company and chief executive committed fraud and misrepresentation
The British Columbia Securities Commission has found that the head of a nanotechnology company committed fraud when he issued seven news releases that contained false or misleading information. Robert Papalia was a director and chairman of Nano World Projects Corp, and from December 2000 its chief executive officer. A commission panel decided that Papalia and Nano World violated securities laws when Papalia, on behalf of the company, issued seven news releases containing false and misleading information between September 2000 and January 2001.
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