CALGARY, April 6 /CNW/ - The Alberta Securities Commission (ASC) has
reciprocated an October 7, 2010 British Columbia Securities Commission
(BCSC) decision and issued bans against Andrew Gordon Walker, Dale
Michael Paulson and Giuliano Angelo Tamburrino.
An ASC panel has ordered that Tamburrino be permanently banned, with
limited exceptions, from: trading in or purchasing securities; acting
as a director or officer of any issuer; acting in a management or
consultative capacity in connection with securities market activities;
and disseminating to the public any oral or written communications, by
or on behalf of any issuer, that promote or reasonably could be
expected to promote the purchase or sale of securities of such issuer.
The ASC panel has ordered bans of the same type against Walker and
Paulson until at least October 7, 2020. Each must pay their
administrative penalty ordered by the BCSC for their bans to be lifted
after October 7, 2020.
In a July 12, 2010 BCSC decision, a BCSC panel found that Walker,
Paulson and Tamburrino perpetrated a fraud on Panterra Resource Corp.
when they used company funds to purchase Panterra Resource shares for
themselves from third parties and sold other wrongfully-issued shares
with the intention of keeping the proceeds for themselves. The BCSC
panel also found that Walker, Paulson and Tamburrino authorized,
permitted or acquiesced to Panterra Resource's filing of financial
statements containing false and misleading disclosure. Walker, Paulson
and Tamburrino were the operating mind and management of the TSX
Venture Exchange-listed Panterra Resource.
A copy of the ASC panel's decision 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
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