ASC alleges Facebook-related investment fraud perpetrated by Calgary man

CALGARY, Dec. 7, 2015 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Nelson Peter Bradbury of Calgary illegally raised more than $1.5 million for investment contracts without proper registration and without a prospectus or exemption.  ASC staff further allege that Bradbury made misleading or untrue statements to investors that included how he intended to use investors' money, how he was to be paid, and misrepresentations that he was acquiring pre-IPO shares in Facebook, Inc. on behalf of investors. Bradbury is also alleged to have perpetrated a fraud on investors by converting investment funds to his personal use, using investment funds to pay returns to other investors, and by falsifying statements of account to investors.

In addition, Bradbury is facing allegations that he made misleading or untrue statements to the ASC. 

These allegations have not yet been proven.

An appearance to set a date for a hearing will be held on February 9, 2016, at 9:30 a.m. in the ASC Hearing Room, 5th Floor, 250 – 5th Street SW, Calgary, Alberta.

A copy of the Notice of Hearing 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 markets.

SOURCE Alberta Securities Commission

For further information: For Media Inquiries: Alison Trollope, Director, Communications and Investment Education, 403.297.2664; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488

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http://www.albertasecurities.com

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