Court sentences Robert Andrew McPherson to more than two years in jail for breaching Alberta securities laws and ASC orders

CALGARY, Aug. 18, 2014 /CNW/ - A Provincial Court of Alberta judge has sentenced 70 year-old Robert Andrew McPherson to two years and three months in jail after being found guilty on 12 counts of breaching Alberta securities laws, including: trading in securities without being registered; distributing securities without a prospectus or applicable exemption; and breaching a 2006 Alberta Securities Commission (ASC) order banning him from trading in securities and acting as an officer and/or director of any issuer.

Provincial Court Judge Camp also ordered McPherson be permanently banned from:

  • trading in or purchasing securities;
  • using any Alberta securities laws exemptions;
  • acting as an advisor or a manager, or in a consulting capacity; and
  • becoming or acting as a director or officer of any issuer, registrant or investment fund manager, or promoter.

In January 2012, the ASC charged McPherson in Provincial Court in connection with illegally raising funds for Alexandra Exploration Inc, Hazelwood Energy Ltd. and Tilston Resources Ltd.

A copy of a transcript of the verbal decision can be obtained through the Provincial Court of Alberta in Calgary.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE: Alberta Securities Commission

For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488

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