CALGARY, Dec. 24 /CNW/ - The Alberta Securities Commission (ASC) has issued an Interim Cease Trade Order against Focused Money Solutions Inc. and Victor George DeLaet based on allegations that they have made untrue or misleading statements to investors.
The Interim Cease Trade Order is in effect for 15 days and prohibits all trading in Focused Money Solutions securities. The order also prohibits Focused Money Solutions and DeLaet from trading in any securities or relying on any Alberta securities laws exemptions. The ASC has also issued a Notice of Hearing in which ASC staff allege that:
- since May 2006, Focused Money Solutions and DeLaet raised over
$46,000,000 from investors in Alberta and elsewhere;
- Focused Money Solutions and DeLaet are currently offering securities
for sale to the investing public; and
- Focused Money Solutions and DeLaet are making prohibited
representations to investors with the recent promotion of Focused
Money Solutions securities.
The next appearance has been scheduled for 9 a.m., January 6, 2010 in the ASC Hearing Room on the 6th Floor, 300 - 5th Avenue S.W., 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.
SOURCE Alberta Securities Commission
For further information: For further information: For Media Inquiries: Tamera Van Brunt, Director, Communications & Investor Education, (403) 297-2664; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488