CALGARY, Nov. 5, 2013 /CNW/ - The Alberta Securities Commission (ASC)
has concluded a settlement agreement with former Platinum Equities Inc.
sales consultant Victor Alejandro Gavilan Jara (a.k.a. Alex Gavilan)
for breaching Alberta securities laws.
In the settlement agreement, Gavilan admitted that he made materially
misleading or untrue statements to investors in two companies
affiliated with Platinum Equities (Deerfoot Court Real Estate
Investment Fund Limited Partnership and Qualia Real Estate Investment
Fund VI Limited Partnership) regarding the safety and profitability of
the investments. Gavilan also admitted that he engaged in unfair
practices while soliciting investments in another company affiliated
with Platinum Equities (PMIC II Investments Ltd.) by taking advantage
of an investor's inability to reasonably protect her interests because
of age or inability to understand the character, nature or language of
matters relating to her decision to purchase securities.
Under the settlement agreement, Gavilan paid $17,500 to the ASC,
including $2,500 in investigation costs, and agreed not to trade or
purchase securities for five years, other than through a registered
representative in a registered retirement savings plan, a tax-free
savings account, or a registered education savings plan.
A copy of the Settlement Agreement is available 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