The Securities and Exchange Commission has filed for an injunction against Vancouver-based firm, Tradamax Group Inc., its controlling mind, controversial Australian financer Pattinson Hayton, and the firm’s CFO, Conrad Diaz.

The SEC’s complaint alleges that since November 2000 the defendants have made numerous fraudulent public statements regarding the control of Tradamax by Hayton, who has been found liable for securities law violations and other illegal conduct.

According to the complaint, these fraudulent statements were made through press releases, internet websites, “spam” e-mail messages, Internet message boards, reports filed with the commission, and promotional materials distributed to prospective investors.

The SEC alleges that an unnamed Canadian corporation controlled by Hayton sold Tradamax stock into the resulting inflated market for profits of at least US$114,408. It also alleges that Tradamax has failed to maintain adequate books and records, file reports with the SEC. Further, Hayton is alleged to have sold securities in non-exempt and unregistered transactions and failed to file mandatory reports with the commission disclosing his beneficial ownership of Tradamax.

The SEC seeks permanent injunctions against Hayton, Diaz, and Tradamax, disgorgement against Tradamax and Hayton, civil penalties against Hayton and Diaz; and an officer and director bar against Hayton.

On June 21, U.S. District Court Judge Gary Taylor issued a temporary restraining order prohibiting Tradamax and Hayton from violating the antifraud provisions of the federal securities laws and freezing their assets.