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by Mike Caswell

Barry Reagh, the Vancouver man charged for the 2019 pump-and-dump of a supposed cannabis listing on the OTC Markets, denies that he did anything wrong. The U.S. Securities and Exchange Commission claims that Mr. Reagh was part of a group that realized $1-million in gains through the paid promotion of an OTC Markets listing. (All figures are in U.S. dollars.) That listing, Upper Street Marketing Inc., went to a $2.15 high before the SEC halted the stock.

The denials from Mr. Reagh are contained in an answer that he filed on Thursday, Feb. 16, in federal court in California. The document is 21 pages long, but it contains few details. In response to many paragraphs of the SEC's complaint, Mr. Reagh simply denies the allegation. In other instances he says that he lacks personal knowledge of the event.

Mr. Reagh does admit to some things that are not likely to be controversial, such as the identities of officers and directors of Upper Marketing and the fact that the company arose from a merger with another entity. He specifically denies paying for any misleading research reports or promotional materials touting the stock. He also denies selling shares in the manner alleged by the SEC and denies realizing the associated gains.

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