CALGARY, July 12, 2012 /CNW/ - The Alberta Securities Commission (ASC)
has further extended an Interim Cease Trade Order against Edmonton
businessman Ronald Theodore Cloutier and a number of companies owned
and controlled by him, namely Venture Contractors Ltd., Viva
Communications Ltd., Sunterra Resource Audit Equipment Ltd. and
Sunterra Seismic Inc. The order is based on ASC staff allegations that
Cloutier and the named companies illegally traded and distributed
securities, made prohibited representations and engaged in a course of
conduct that perpetrated a fraud on Alberta investors.
The Interim Cease Trade Order will remain in effect until a hearing into
the allegations has been concluded and a decision rendered. The order
prohibits all trading in any securities of the named parties. The
order also prohibits the named parties from trading in all securities
or using all Alberta securities laws exemptions.
A hearing is scheduled to begin on June 3, 2013 in the ASC Hearing Room
on the 5th floor, 250 - 5th Street S.W., Calgary, Alberta.
Anyone who has been contacted by someone from or on behalf of Ronald
Theodore Cloutier, Venture Contractors Ltd., Viva Communications Ltd.,
Sunterra Resource Audit Equipment Ltd. or Sunterra Seismic Inc. is
asked to contact the ASC Public Inquiries Office at 403-355-4151 or
1-877-355-4488. Investors are cautioned against sending money for
securities or investment purposes to any of the named parties while the
extended Interim Cease Trade Order is in effect.
Copies of the Interim Cease Trade Order: Extension and Notice of Hearing can be found on the ASC website at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and
efficient capital market in Alberta and to protect investors. As a
member of the Canadian Securities Administrators, the ASC works to
improve, coordinate and harmonize the regulation of Canada's capital
SOURCE Alberta Securities Commission
For further information:
For Media Inquiries:
Senior Communications Advisor
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1.877.355.4488