The British Columbia Securities Commission (BCSC) on Thursday announced it has received $120,000 from a securities law violator, which is now available to victims on an investment scheme.

Last year, a BCSC panel ruled that Ayaz Dhanani fraudulently raised $188,800 from three investors.

As a result, the panel ordered Dhanani to pay the improperly obtained amount to the commission, along with an administrative penalty of $225,000, among other sanctions.

The wronged investors have until Feb. 23, 2020 to submit a claim for the funds.