CALGARY, Jan. 29, 2013 /CNW/ - Alberta Securities Commission (ASC) staff
have laid 16 charges against two Calgary-area residents in connection
with a suspected 2010 market manipulation (pump and dump) of
Calgary-based Coastal Pacific Mining Corp. securities. Coastal Pacific
Mining trades on Over-The-Counter quotation systems in the United
ASC staff charged Coastal Pacific Mining's president and CEO Joseph
Gaetano Bucci, and Caroline Meyers (a.k.a. Caroline Winsor, a.k.a.
Caroline Danforth), the principal of Calgary-based International
Securities Group Inc. with trading without registration or a prospectus
and making prohibited transactions. Staff allege that both Bucci and
Meyers collaborated in setting up Coastal Pacific Mining Corp. as a
"pump and dump" shell company over a number of years, finally
implementing the market manipulation that occurred in late 2010.
A pump and dump scheme involves individuals who promote or "pump" the
purchase of a specific company's stock to drive up the value of the
stock. The individuals then sell or "dump" their shares at the
increased price and stop promoting the stock, which causes the stock
value to plummet, leaving investors with worthless shares.
The first appearance in this matter has been set for 8 a.m. on March 8,
2013 at the Calgary Courts Centre.
A copy of the Information listing the charges is available at the
Calgary Courts Centre.
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
For further information:
For Media Inquiries: Mark Dickey
Senior Communications Advisor
For Investor Inquiries: ASC Public Inquiries
Toll Free 1-877-355-4488