The U.S. Securities and Exchange Commission has barred Glen Vittor from associating with any broker or dealer based upon his participation in a market manipulation scheme involving the stock of a former Vancouver-based microcap company, Technigen Corp.

Vittor consented to the order without admitting or denying the commission’s findings. The SEC found that from January 1992 through May 1993, Vittor, directly or indirectly, engaged in a distribution of Technigen securities and bid for or purchased, or induced others to purchase, Technigen securities before he had completed his participation in the distribution.

It also found that Vittor, through a brokerage firm he formerly owned, Sovereign Equity Management Corp., engaged in manipulative trading in Technigen stock using, among other things, prearranged trading between controlled nominee accounts, matched trades, and a parking arrangement that hid the true ownership of the shares. And it found that Vittor sold shares of Technigen when no registration statement was in effect.

The commission found that Vittor willfully violated the Exchange Act. The U.S. District Court for the District of Colorado issued a final judgment against Vittor permanently enjoining him from further violations of those statutes.