A B.C. resident who pleaded guilty in November 2023 to conspiring to commit securities fraud in the United States will face a hearing in Vancouver next week that could result in his banishment from Canadian capital markets.

Steve Marko Bajic, 56, admitted to a federal court judge in Boston he was part of a group of co-conspirators that orchestrated multiple pump-and-dump schemes.

The U.S. Attorney’s Office had alleged Bajic used a network of foreign shell companies to conceal beneficially owned shares of dozens of U.S. penny stock companies that would otherwise need to be reported to the U.S. Securities and Exchange Commission (SEC).

Bajic, a dual citizen of Canada and Croatia, then covertly conducted promotional campaigns intended to create investor demand for the shares before selling them through banks and brokers that he duped.

Bajic’s actions resulted in trading proceeds in the tens of millions of dollars, much of which was collected by control persons of the companies involved in the conspiracy.

Bajic is named as a client of West Vancouver resident and former lawyer Fred Sharp in civil proceedings involving other accused fraudsters.

Starting in August 2021, American regulators and prosecutors claimed in multiple parallel civil and criminal indictments that Sharp was the “mastermind” of numerous such schemes orchestrated out of his Vancouver offices.

Sharp was found liable for fraud in civil proceedings and still faces unproven criminal charges. The SEC is now pursuing Sharp’s assets in B.C. Supreme Court as he owes $US52.9 million.

Bajic avoided a maximum prison term of five years and was sentenced to one day of time served and forfeited US$837,734, representing the illegal profits he earned. The U.S. Attorney’s Office passed on restitution given the sheer number of victims.

Bajic was last known to reside in Vancouver, according to November 2023 court filings.

Nearly three years after his guilty plea, the B.C. Securities Commission is set to hold a hearing for a reciprocal-order application, which would match Bajic’s capital markets bans in the U.S. as his crime there would also be a violation of the B.C. Securities Act.

“Market manipulation and fraud, by their very nature, involve deceit. In light of your deceitful conduct; your participation in British Columbia’s capital markets would pose a significant ongoing risk to investors and to the integrity of the capital markets of British Columbia,” stated Doug Muir, the commission’s director of enforcement in a Nov. 5, 2025 application.

“Given the increasing integration of capital markets across North America and the fact that Canadian investors may purchase securities offered in the United States, damage to the reputation of U.S. securities markets may jeopardize Canadian investor confidence in the integrity of capital markets generally,” added Muir.

The application notes Bajic is a B.C. resident but does not further specify his location.

Bajic faces a blanket ban on trading securities, acting as a company director or officer and promoting, managing or advising companies that issue shares.

According to the commission, a hearing with oral submissions will take place on Sept. 8.

The commission has at least three reciprocal ban applications ongoing with British Columbians alleged to have worked for or with Sharp; those include Delta resident Jackson Friesen, Avtar Singh Dhillon and Sharp’s alleged co-accomplice Zhiying Yvonne Gasarch.

In Gasarch’s own civil fraud case brought by the SEC, in which she was found liable, the complaint alleges Bajic was in contact with Gasarch, who was codenamed “Wires” by Sharp, to disseminate sales proceeds.

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