State regulators fined an Alaska Native corporation board member over a social media post perceived as an attempt to sway the votes of shareholders.<\/p>\n
Richard Beasley of Goldbelt Inc. posted a message regulators determined was implying shareholders would be paid if they voted in favor of establishing a new trust, CoastAlaska reported Monday.<\/p>\n
The Juneau-based urban Alaska Native corporation asked shareholders last year to vote in favor of the trust it said would take advantage of a change in the federal tax law.<\/p>\n
The state’s Division of Banking & Securities fined Beasley $1,000 for a Facebook post showing a check for $100 made out to his brother and suggesting he received the funds for voting in favor of the resolution.<\/p>\n
The Goldbelt resolution vote passed overwhelmingly. Everyone who participated in the election received the same incentive, which was designed to boost participation for the corporation to reach a quorum at its annual meeting.<\/p>\n
“Shareholders were not required to vote in favor of the proposed settlement trust to be eligible to receive $100.00 from Goldbelt,” the banking and securities division said in a June 30 statement ordering Beasley’s fine.<\/p>\n
Goldbelt shareholder Ray Austin said he filed a formal complaint over Beasley’s Facebook post because it was misleading.<\/p>\n
“I didn’t like that statement when I saw it because I didn’t think it was truthful,” Austin said. “You didn’t have to vote ‘yes’ to get your hundred dollars.”<\/p>\n
Austin is a longtime critic of the Native corporation’s management and recently was involved in an unrelated dispute with Beasley.<\/p>\n
The state regulator fined Austin in June over a Facebook post last year accusing Beasley of failing to disclose his paid contract work for Goldbelt. Austin said he has requested a hearing to defend himself in the matter.<\/p>\n
State financial regulators are empowered to police speech related to board elections of Native corporations created by the Alaska Native Claims Settlement Act.<\/p>\n
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