VANCOUVER - The British Columbia Securities Commission (BCSC) has announced a settlement of nearly $4.2 million with William Meikle and his company, Hit TV Brands, due to allegations of misleading shareholders and misappropriating investor funds for personal expenses. This settlement underscores the commission's commitment to protecting investors and maintaining the integrity of the capital markets.
According to a news release from the BCSC, William Meikle and Hit TV Brands are required to pay almost $3.7 million to cover the amount they fraudulently raised from investors. In addition, they will remit an extra $500,000 as part of the settlement agreement. The regulator's investigation revealed a series of serious infractions that occurred during a specific time frame, casting a shadow over the company's operations and financial representations.
The BCSC identified that Meikle, a resident of British Columbia, led the company incorporated in Alberta. Hit TV Brands was involved in selling various consumer products, including "JUICE"-branded batteries and a lubricant product known as "MotoGator." However, between February 2018 and December 2019, Meikle and the company engaged in securities violations by misrepresenting the company's financial outlook, including overstating potential revenues, and promoting the idea of an "imminent" public offering and subsequent financing deal that never materialized.
One of the most concerning aspects of the case was the misuse of investor funds. The BCSC alleges that Meikle and Hit TV Brands misappropriated approximately $1 million of the funds provided by investors for personal expenditures. This lavish spending reportedly included payments for a rent-to-own luxury home located in Kelowna, British Columbia, a leased Porsche vehicle for his spouse, and excessive purchases exceeding $6,000 at a Louis Vuitton store in Las Vegas. Such actions not only violate the trust placed in them by investors but also highlight severe ethical breaches in corporate governance.
The commission noted that Meikle and his company cooperated throughout the investigation, which allowed them to avoid a more extensive hearing process. By agreeing to the settlement, both Meikle and Hit TV Brands are permanently banned from participating in the investment market, thereby protecting future investors from potential financial harm. The BCSC's decision illustrates the seriousness with which it treats securities violations, particularly those involving fraud and misrepresentation.
This case serves as a stark reminder of the responsibilities that come with handling investor funds and the importance of transparency and accountability in the financial markets. By reaching this settlement, the BCSC aims to reinforce its stance against fraudulent practices and ensure that such violations are addressed swiftly and decisively.
The report detailing these developments was first published on November 10, 2025, reflecting ongoing efforts by regulatory bodies to uphold the integrity of the financial industry and safeguard the interests of investors across Canada.
