Recent Cases

On November 13, 2015, the Alberta Securities Commission withdrew all charges against three individuals being prosecuted for their involvement in a stock promotion commonly referred to as a “pump and dump.”

The prosecution alleged a complex multi-jurisdictional tiered stock promotion scheme alleged to have breached Securities Act Regulations. The challenge faced by the Securities Commission was to connect our client who was not in the Province during most of the operation to the offences.

A detailed review of the evidence showed our clients name on agreements, access to the office where the offences were alleged to have occurred and other evidence of his involvement. There were also historical links to the company and issues concerning company meetings and agreement signed in other jurisdictions.

The defence team case led by eminent Queen’s Counsel Don MacLeod, conducted a bifurcated hearing, or split hearing, on specific issues during the trial up to and including the Court of Appeal of Alberta. Though the application was denied it resulted in a settlement agreement with all parties.

A monetary settlement as opposed to a criminal record and the risk of jail was avoided.