David Sidoo used to be a professional Canadian football player, who was Well-known in the field, and was also a stock promoter, businessman, and philanthropist
Recently, David is circulating all round as the US Securities and Exchange Commission has charged him $145 million in a fraud case.
David was once a member of both the UBC Sports Hall of Fame and the BC Football Hall of Fame. He played for the University of British Columbia Thunderbirds.
In 2019, David was also named by the FBI as one of the parents involved in the college admissions bribery scheme, and he eventually pleaded guilty to mail fraud conspiracy.
He was accused by the Securities and Exchange Commission (SEC) on April 14, 2022, for his role in a 2006 pump-and-dump fraud.
David Sidoo was the first Indian-Canadian to be drafted by a CFL team.
David was a member of the Saskatchewan Roughriders and BC Lions of the Canadian Football League from 1983-1988.
Sidoo began working in the brokerage industry after quitting football. He was the CEO of Advantage Lithium, a mining firm, at the start of 2019.
He was a founding stakeholder in American Oil & Gas Inc. (NYSE -AEZ), which was sold to Hess Corporation for more than US$600 million in December 2010.
David sold Advantage Lithium to lithium manufacturer Orocobre in an all-stock transaction valued at more than $150 million in 2020 as the company’s Founder, CEO, and President.
Former CFL player and Vancouver businessman David Sidoo is accused of being part of an international fraud ring that defrauded investors of millions of dollars.
He is one of eight people listed in a fraud complaint filed by the Securities and Exchange Commission, which claims the multi-player network made $145 million in illicit profits between 2006 and 2020.
According to the complaint, he assisted in the execution of a $15.23 million scheme under The North American Oil and Gas Corp. from July 2013 to October 2018, as well as a $1.45 million scam under American Helium Inc. from March 2018 to February 2020.
He has not been charged with a crime, and the claims have yet to be proven in court.
In the U.S. college admissions scam, Sidoo was sentenced to three months in prison for paying someone $200,000 to take the SATs in place of his two kids.
David Sidoo is a well-known Canadian stock promoter, businessman, and football player.
Sidoo began his career after college and professional football by working as a broker until 1999, then as a private investor, and lastly as a director of many junior public firms.
Sidoo’s first job as a director was with East West Petroleum, an oil and gas exploration business, which he joined soon after American Oil and Gas was sold.
In July 2010, he joined the company and advocated failed investments in California, Romania, Egypt, India, New Zealand, and Morocco.
For its long-term, retail investors, the endeavor was a flop. One share of Sidoo was selling for seven cents at the time of the indictment in March 2019.
David Sidoo has amassed a sizable fortune throughout his career. He may, nevertheless, have made roughly $10 million.
Maybe he earned more than this as we have just made an estimate of his career earnings.
In terms of salary, he might have earned somewhere between $60,000 to $100,000 each season as a football player.
Sidoo began working in the brokerage field after quitting football.
He was a founder of American Oil & Gas Inc. (NYSE -AEZ), which was sold to Hess Corporation for about US$600 million in December 2010.
David Sidoo Fraud Scandal Explored, Arrest And Charges Explained
