CALGARY, June 5 /CNW/ - The Alberta Securities Commission (ASC) has
issued an interim cease trade order against Calgary businesswoman Jeanette
Cleone Couch, Shire International Real Estate Development Ltd., Shire Asset
Management Ltd., Maples and White Sands Investment Ltd. and Hawaii Fund trust
due to allegations of misrepresentations and fraud.
The interim cease trade order is in effect for 15 days and prohibits
Couch and the named companies from trading in any securities or relying on any
Alberta securities laws exemptions. An ASC panel issued the interim cease
trade order after hearing evidence from ASC staff. The ASC has also issued a
Notice of Hearing in which ASC staff allege the named parties:
- used raised capital for undisclosed, improper purposes and knowingly
- made misrepresentations to investors and ASC staff;
- engaged in conduct relating to securities that amounted to fraud; and
- took part in deceitful conduct that caused an actual loss to
investors or placed investors' money at risk.
The next appearance has been scheduled for 2 p.m., June 16, 2009 in the
ASC Hearing Room on the 6th Floor, 300 - 5th Avenue, Calgary, Alberta. At that
time, an ASC panel will consider extending the interim order.
A copy of the Interim Cease Trade Order and the Notice of Hearing can be
found 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.
For further information:
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